Tax Year Prior to 2020: Turbotax is only importing half of my Ally Bank 1099-INT's available when I compare them with the hard copies provided by the bank.

[MarilynG1]

Not knowing how many accounts you have at Ally Bank, it is acceptable to total all 1099-Int's together into one entry in TurboTax.  The individual account numbers are not needed by the IRS.

Click this link for more info. 

[JP4120]

same problem still occuring with Ally Financial - why can't turbo tax look for the words combined summary and use that page? apparently this has been occuring for 4 years and still not fixed - using turbo tax premier for tax year 2022

[mazink]

I am seeing this issue with Ally Bank and Marcus.com. Both banks have several accounts consisting of Savings, Money Market, and several CD accounts.  The issue I see, for example when importing from Marcus, this has 4 different accounts. The 1099INT has 3 pages.

Page 1: Info for acct 1 & 2 , the Interest for these account  was imported properly.

Page 2: Instructions for Recipient

Page 3 : Info for acct 3 & 4 - TurboTax ignored the interest on this page 

So it looks like TurboTax only process the 1st page of the 1099 INT,  or it get confused by Page 2 which are instruction for recipient, looks the the importing code has a bug, and does not check after page 2 if there are additional 1099INT.

[mazink]

Then Turbotax should not advertise it can import from banks. They should clearly say, can only import one account per bank or fix the issue, this has been going on for multiple years. Credit Karma has no issues if one has multiple accounts at a bank.

[mazink]

Reply to: DaraLO

Here are the details. The issue occurs for any import which has multiple accounts or multiple pages on 1099. The issue occurs with Ally and Marcus bank. For example, my Marcus bank has 4 accounts. The 1099 has 3 pages.

Page 1: INT for Account 1 & 2 -This gets imported properly

Page 2: Instruction for recipients (all text no Interest information)

Page 3 : INT for Account 3 & 4 - TurboTax ignores the INT for these accounts.

It looks like when the Software gets to page 2, it thinks this is the end of the 1099, thus ignores page 3 completely. This bug can be fixed by parsing the 1099 until end of the file is reached.

[JP4120]

i still say turbotax  at the least should clarify that its import function doesn't work for certain situations described above. ideally they would fix this because it can't be that hard to parse and decipher the import programatically.

[Augie zolezzi]

Well this business program which I paid over a 143.00 for has no link to Schwab.  it look like it want me to type in each transaction.  that is not going to happen.  there is no link to Schwab.  I have used turbo for years this is the first time.  

[DaraLO]

Charles Schwab & Co., Inc. is a TurboTax Import Partner and you should be able to import a 1099 or 1098.  Make certain you are searching for 'Charles Schwab' instead of "Schwab."

If you need additional help, please contact us via phone so we can better assist you.  To speak with a TurboTax Expert, refer to the instructions in the following Help Article:  How do I contact TurboTax?

Reference:  How do I import my 1099s? - Intuit

[kaydee]

Home and Business will import. Based on the price you paid, sounds like you have the TurboTax Business version (1065, 1041, etc). TT Business does not import from any institution. You can enter JUST the summary numbers and attach a pdf of the detail 1099 stmt when you file.  If you have multiple institutions, combine all of the detailed statements into one pdf because efile will only allow one attached file. 

[Roger501]

Thanks Marilyn.  I used this technique to record the total amount of interest I earned at Ally.com.  However, this is a manual procedure.  I purchased TT to import tax information electronically to reduce the risk of incorrect manual entry.  This problem has existed for many years. Last tax year, TT worked correctly with Ally bank with multiple accounts but the problem that existed in the past appears to be back. 

[Marx57]

It is 2023 and I'm doing 2022 taxes. Yes, it is STILL a BUG! Good thing I reviewed all the 1099-INT forms and found that it imported only some of the accounts' interest. Gee, what would have happened if I sent it to the IRS as is?!  Do it manually... and check any other INT or DIV forms and compare it, just in case this bug shows up in any other combined statements. 

[Jkwilson]

@MarilynG1 No, it is not acceptable for this to be going on 4 years (after reading posts, it may have been first reported 6 years ago) after it was reported. It doesn't download the total, it just downloads the first one or two accounts and stops but acts like it completed. It is completely unacceptable that this is still going on. There is no way to make it download the rest, so its actually worse than nothing since it doesn't help and can actually result in under reporting income.

I assume Intuit will reimburse us for any penalties caused by this egregious failure to correct a reported bug.

[mbk1]

I complained about this issue on this thread yeas ago.  I think this was actually fixed for 2021 returns, after having been an issue for years.  But, if that was so, it was broken again.  Likely many many people with multiple accounts at Ally who assumed that TurboTax would import as it is supposed to have filed materially erroneous tax returns because of this issue, which Intuit is unwilling to acknowledge or fix.

[Wowotoe]

You can file Return Preparer Complaint (IRS Form 14157). This will make sure you are not liable for any misinformation imported by TurboTax when importing Ally data.

https://www.fool.com/the-ascent/small-business/articles/form-14157/

[CarissaM]

Please follow the suggestion here for importing more than one brokerage account into Turbo Tax. 

Please let us know if we can further assist you.