Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 25, 2020 2:59:35 PM

So I got my tax documents from webull. But I got them in my email and I want to import those files to TurboTax. I can't import them from WeBull

0 8 5923
8 Replies
Expert Alumni
Feb 25, 2020 3:27:41 PM

If you can not import the documents then you will enter them manually.  Enter the form number in the search box then click on Jump to in the results window.  Follow the prompts to enter your form data.

Level 2
Mar 6, 2021 6:24:19 AM

The thing is, I have a 130 page Webull document, so a line-by-line typing of these is a horrible task, and it's a reason why I bought TurboTax Premier.
Last year, TurboTax imported the data with no issues, and for this year it did so smoothly for RobinHood. Based on the forum posts here, this seems to be an issue that merits a deeper look for this year. Entering note-for-note is not a option.

Expert Alumni
Mar 7, 2021 10:49:27 AM

TurboTax has a limit of 3,000 transactions.

 

I recommend that you manually post the summaries.

 

Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, "Box A short-term covered" or "Box D long-term covered." You'll enter the summary info instead of each individual transaction.

  1. Open or continue your return (if it's not already open) and search inside TurboTax for the phrase stock sales.
  2. Select the Jump to link in the search results.
  3. Answer Yes to both Did you sell stocks, mutual funds, bonds, or other investments? and Did or will you receive a 1099-B form or brokerage statement for these sales?
    • If you land on Here are all your 1099-B sales, select Add sales from a different brokerage. Then answer Yes to Did or will you receive a 1099-B form or brokerage statement for these sales?
  4. When asked how you want to enter your 1099-B, select I'll type it in myself.
  5. Select or enter your brokerage on the next screen and continue.
  6. On the following screen (Tell us about...), answer the questions until you reach the next screen. Select the second option, Let's enter a summary instead, and select Continue.
  7. You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue.

When you are done, you'll eventually come to the Here's a summary of your broker sales screen where you can edit, delete, or enter more sales.

 

You will have to mail a copy of your 1099-B to the IRS.  TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it. 

 

 

Level 1
Feb 15, 2022 7:52:42 AM

These are the most ridiculous solutions. Why don't you submit a request to fix the import? It is a feature, on your platform, that does not work. Thus, it is a bug. Thus, it should be fixed.

Level 2
Feb 15, 2022 8:06:10 AM

I am late in responding, but I thank you for that advice. I did it as you laid it out, and it was easy.
I was lost, and your response helped me finish the taxes quickly.

Level 2
Feb 15, 2022 8:07:07 AM

Last year I tried everything. This year, I will do the same.
Thanks!

New Member
Feb 22, 2022 2:48:48 PM

With Turbotax Premier, I can neither import tax documents from brokerages or enter the information manually.  

Level 2
Feb 22, 2022 3:32:59 PM

I finalized mine Saturday by haggling with TurboTax Premium program to get to the option of entering Webull column totals.

Similar issue with the Robinhood crypto sections, as the review prompted me to enter 356 transactions manually. No way i was doing that.

Ultimately, I deleted my original income entry a couple times, then arrived at that "by totals" option, wherein it amounted to 4 or 5 lines only.

Uploaded all documents, and both returns accepted in short order.

It's frustrating, but that otion is available.

TurboTax successfully imported my Robinhood stocks 1099.