Should all 1099 tax data import?

[JB9]

Hi-

I imported my 1099 tax form from my Fidelity account. The 1099-B information came in, but the 1099-DIV did not. Is there a reason for this? Last year all of it came through at the same time.

Thanks,

JB

[MonikaK1]

Your brokerage may not have released all of their statements at the same time. Check with them if you don't have all of your needed tax documents.

If your financial institution is a TurboTax 1099 Import Partner, you would likely have been able to import your 1099-INT, 1099-DIV, 1099-OID, 1099-R, 1099-NEC, and 1099-MISC (without entries in boxes 8 or 10) by January 31, 2025, and likely have been able to import your 1099-B and 1099-MISC (with entries in boxes 8 or 10) by February 15, 2025.

However, if your brokerage issues a consolidated tax statement with several types of 1099s, which is common, you might not have been able to import any of your 1099s until February 15, 2025. 

If you can find out from your brokerage whether the statements are going to be coming out in phases, it is probably  better to wait to import until the final statement comes out to do the import. This is generally an issue with way the statements are presented rather than a software issue.

Check here for updates to the Help Article with this information. 

When importing, make sure TurboTax and Windows are both updated, and temporarily disable all anti-virus software (including modem).  Make sure your broker does not require you to allow 'third party access', which you may enable in your broker account, if this applies. Some users reported that disabling security software solved the issue.

[JB9]

Thanks for the reply.  I probably should have been more clear. I just did the import yesterday, March 2. My broker is a partner, and when I imported last year, interest, dividends, and sales all came through at the same time (it was a consolidated statement). I printed the statement

This year, I did the same steps, but only the 1099B came through, whereas the INT and DIV that were in the same consolidated statement did not. Hence my question, should all three have come through? I think they should have.  I was wondering if I had to access the brokerage from a different spot in Turbo Tax each time, depending on whether I was looking for interest, dividends or sales, but the same option to import came up, and there didn’t seem to be any way to pinpoint which 1099 (INT, DIV, B). I’m thinking it’s a glitch of some kind. I will check with the brokerage as well.

JB

[LindaS5247]

Please clarify the following so we can better assist you:
 

1. Which section of TurboTax were you in when you attempted to import the form?
2. Where in TurboTax do you see that the form was not imported? On the summary screen, the refund meter, or another location?

[JB9]

Hi LindaS5247,

I have tried the import from three different “Update” buttons next to the following headings:

Under Wages and Income:

—Interest and Dividends/Interest on 1099-INT (I chose update, as I had Bank info to enter)

—Dividends on 1099-DIV (Update again)

Under Investment Income

—Stocks, Cryptocurrency, Mutual Fonds, Bonds, Other (Update)

As only 1099-B income came through, after each import, I went back and deleted it, thinking the starting point was wrong. However, I don’t think that’s the case. I think the import is failing to bring in all of the data from the one account.

Each time I tried to update, I was taken to the same next screen “Let’s finish pulling in your investment income” and I clicked the blue button “Add Investments”

That takes me, as expected, to the “Let Us Enter Your Bank and Brokerage Tax Documents” screen, where I select my brokerage, choose Import Now, then get logged into my brokerage and select the account. It’s the same process for each 1099 type. (I tried from different starting points to see if there was any difference.)

The way I know the Import didn’t fully take place is that when completed, I am returned to the “Let’s finish pulling in your income investment screen” where all of the companies are listed, and under each company name, I see a white box for each 1099 (INT, DIV, -B) separately. So, for example, one company name has two boxes under it. (I entered those manually for that company, so I see a box for dividends and a box for interest, as entered. For the import, Fidelity (National Financial Services LLC) I do NOT see dividends (I had them), or interest, which are part of the form. If I look at Schedule B in the Forms view, the dividends /interest do not show there either. At this point, I have to enter them manually.

I do not use the refund meter to judge the success—only what I see on the screen right after the import is completed, (I guess you call that the summary screen, but it’s the same place where I’d add another investment) —and by looking at Schedule B, which is where the two missing items should show up had they imported properly.

I should restate that I had no problem with this last year. All of my Fidelity/National Financial Services LLC income sources populated correctly as a result of one single import. I didn’t have to add anything manually.

I hope this helps,

JB