I have got Amended 1099 document from my Robinhood brokerage today (the original one had errors/missing transactions). When I try to import the data after deleting the old one like you described, I still see the old data being imported. How to import the new data?
The new 1099 has the same account number and Document ID, not sure if this is causing the issue but the new document clearly shows "Statement Date: 03/22/2021 AMENDED".
Any help is appreciated.
If the corrected 1099 is not importing, and instead the original is importing, that would be a RobinHood issue. TurboTax can only import what is made available. I would give it a couple of days and try again. If you still don't get the corrected 1099, you can either make manual changes, or enter the information manually. If you have too many transactions to enter, you can enter category summary totals.
It will require you to either upload to TurboTax a copy of your Form 1099-B, or mail it, with Form 8453, (which TurboTax will generate). To do this in TurboTax Online:
Click on Search and type in "Form 1099-B"
- Click on "Jump to 1099b"
- Answer Yes to "Did or will you receive a 1099-B form or brokerage statement for these sales? "
- Click on "I'll type it in myself"
- Answer the questions about employee stock, etc.
- Click on "Let's enter a summary" button and click Continue
- Enter your Investment Sale information and repeat until you have entered for each category.
After entering all your category summaries, Look for "To finish reporting these sales, follow the mailing instructions" and click on the link for these instructions:
Take a moment to double-check that your statements are complete. For each sale listed, there should be:
- A Description
- Date Acquired
- Date Sold
- Sales Price
- Cost Basis
- Gain or loss for each sale
- A sale category based on how the sale was reported to you and the IRS
In some uncommon cases, there will be an adjustment code and adjustment amount.
Here's how to mail your statements:
If you are e-filing your tax return, then mail your statements along with Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
If you are not e-filing, then mail your statements with your entire tax return to your local IRS office.
* The questions you are asked by the program may vary depending upon what, if anything, you may have already entered related to investment sales.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Thank you for the quick response on this one. Like you said, I tried to pull the data today and the updated data was obtained by TurboTax. In the corrected 1099 document, there were just two new data entries.
Alternately, I wish TurboTax software had a way to add additional transactions/data entries into the imported data, it currently provides way to edit the imported entries but does not allow to add new entries. Atleast this is what I figured out as I was not able to add additional entries into the imported 1099 data.
Tanks a lot for the help.