Schwab import fails

In order to import your Schwab 1099 form(s) into TurboTax, you’ll need to opt-in to Schwab’s import program settings directly from your Schwab account.

To do that,

1. Log in to schwab.com/passwords.
2. Once logged on to Security Center, scroll down to Third-Party Access to Account Information, and under OFX, select Enable Third-Party Access.
3. You will receive an email confirming third-party access is enabled.

After that,

1. Sign in to your TurboTax account and continue to your return.
2. Search for the form you’d like to enter (for example, 1099-INT, 1099-DIV, 1099-B), and select the link at the top of the search results.
3. Continue through to successfully import your Schwab 1099 forms.
4. You can also navigate to the section by selecting Wages & Income from the top menu.
5. Scroll down to Investment Income, select Revisit next to the section you were working on, and continue through to successfully import your Schwab 1099 forms.

I have already enabled 3rd party access.  It is a different error message when the access is disabled.

I can't help if the 1099 download isn't working; however, there is an alternative if your 1099-B won't import.  You can enter category totals instead of individual transactions.  To do so,

• Click on Search
• In the Search Window type Jump to 1099-B
• Click on Jump to 1099-B
• Click + Add an Account (if the account you were trying to download is showing, delete it first)
• 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"
• Select your Bank or brokerage and click Continue
• On the page with "Tell us about your 1099-B sales for this Charles Schwab account" answer the question about employee stock & the number of sales, etc.
• click the button "Let's enter a summary"
• Enter your Investment Sale information and repeat to 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 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.

 NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

 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.

I've never had any problem importing from Schwab before.  I use Turbo-tax Premier

A couple of things to try.  1. If you have a VPN running, disable it.  2.  Try a different browser (Chrome, FireFox, Edge).  

I'm having the same issue.

I'm using the downloaded installed product on my desktop.

I was able to download from etrade.

It's just schwab where I cannot.

And I have change the third party switch -- which was "on" to "off" and then back to "on" -- just in case.

None of that accomplished anything.

It appears the handshake between intuit and schwab is broken.

Schwab has XML, CSV download available.   Does TurboTax allow importing those ??   If so, how ?

I've done this and still cannot import for 2020.  Schwab says all forms are available.

this is the message I get:

Are you still having trouble importing your 1099? 

@GoingLikeSixty

Hi, turns out all my forms are not ready yet at Schwab.  I'll check back 2/19. Thanks for your interest!

Hi Alan and all,

First time user here.  Decided to move on from TaxAct after many years because of some issue last year with some forms which I'm now trying to resolve with the IRS.  Was happy to see basic info and W-2 import worked smoothly into my 2020 Premier Windows software.

I initially had issues with import working due to third-party access being disabled, but then I fixed it and it was able to import.  My issue is that it only imported the 1099-DIV section, when the more interesting and involved 1099-B.  When I looked at the forms available, they had the 1099-B PDF available separately, but for some reason it isn't included in the composite PDF.   I don't know if this is something known that should be resolved and if so when.  If anyone has info on this please share.  I'll also try querying Schwab on it.

In my case, the issue is only the individual investor account info is picked up, not the EAC account (for company stock awards) that has my 1099-B.  So it is probably unrelated to the original issue here.  I saw another post about EAC import not working.

Having the same issue with EAC. 1099 has been available since 02/19 but no luck importing so far. Do love the confidence with which turbotax tells me to be prepared to be impressed and then fails at every import attempt.

Schwab had not uploaded all my forms when I posted before. Once they were all uploaded the imported seamlessly into Turbotax. Also imported from Amerprise too.  I have e-filed my taxes.

CAUTION:

I'd be wary and suspicious of the website URLs posted by new user "nhe150" above.   For all we know, they could be dangerous sites to steal information or plant malware.    I've asked a Moderator to look it into it.

I'm a 3rd person having a problem with an employer managed Schwab account holding RSUs. The import function only pulls in 1099-INT from the bank account, not the much more interesting 1099-B from the account with the RSUs.

If anyone finds a workaround please post it. Please also post if you can figure out where Schwab has the information on how many shares were sold for taxes when the RSUs were granted - can't find that anywhere on Schwab.com

First I have to say...  Turbotax Support is Awful.

I have never had problems like this in the past, and trying to use this Support Group is even worse.

Where is the phone number where I can talk to someone !

Now, why am I here?

Today is 02/18/2022, and I am supposed to be able to import my data from Charles Schwab.

I log on, put in all the right security information and I see the program code abending.

I have tried multiple times.

So what do I do?

Who can I talk too?

Where is the Phone Number to call?

This is getting ridiculous.

My consolidated 1099 has been available as a PDF on Schwab's site all week.

All week long I've been held back by TurboTax telling me that: "No Documents are Currently Available for Import" and that they would be available "from Friday, 18 February 2022 at 00:00:00 PT onwards"

So now it's Friday the 18th and TurboTax will (presumably) allow me to (finally) download my data... lots of fancy looking splash screens in Turbo Tax, logging into Intuit, logging into Schwab to confirm access and agree to terms and in the end, after logging into everything and following the multistep process:

"error": "invalid_request",

"error_description": "Too Many Requests"

I'm not looking for a workaround where I can spend all day manually entering data - please don't offer it.

Please just make this work.

Ya, I'm getting the same failures  ....

"error": "invalid_request",

"error_description": "Too Many Requests"

When importing from Charles Schwab, make sure to opt-in to Schwab’s import program settings directly from your Schwab account. Please see this TurboTax FAQ, for more information, How can I fix my 1099 import issue?

If you are using the Desktop program, uninstall/reinstall the software and if using the Online Program, try clearing cache and cookies and rebooting your computer. 

If its still not working and you are getting the invalid requests error, the forms may still not be ready yet, for import. Give it some more time, then try again. For further assistance, contact TurboTax by phone.

Thanks for the boiler plate about access but that is NOT the issue at hand.

My import is failing with the exact same error.   I have hundreds of Schwab trades and entering them manually is not a reasonable option.   Like others, I waited anxiously for today and am so disappointed as I have used this option successfully for at least 10 years.   I have desktop Premier option.  In fact, this is the only reason I pay extra for Premier.

@fixate I started my post addressing access, because if that part isn't done, the import won't work anyway. I understand that the issue is that the error says, "invalid requests" and "Too Many Requests", which could be due to everyone trying to import at the same time on the same day. However, sometimes the basic fixes can be the resolution. 

@KingMota Please give it some more time, as the imports were just available as of today, run updates and try again later. 

Please also, see this TurboTax FAQ, for more information about imports as there is a limit for Online and Desktop and this article addresses both, How do I enter a large number of stock transactions

Try Again…

After multiple failures, mine finally worked…

I am disgusted with TurboTax, I have been on the phone for hours. Most of support didn’t have a clue…

I finally worked…

I had the same error that was posted after my original post.