I am having a problem with 2020 TurboTax Business. I did the summary capital gains input and when I completed it, turbo tax said I would be prompted at the submission point to attach the 1099-B pdf. But I never got the prompt. It has been submitted and accepted at the federal level. I think TT has a glitch. How can I resubmit and include the attachment? I don't see that ability in the attachment area. Jimbob
@Jimbob2020 wrote:
How can I resubmit and include the attachment? I don't see that ability in the attachment area.
That is due to the fact that the functionality is not supported; you have to print and mail.
Well that's a bummer. That comment should be in the software routine, the program led me to believe I could attach the pdf. :(
I had the same issues. I have two 1041 Trust Returns I am trying to do with TT Business. The Home and Business version has an easy broker interfaces to download the full set of 1099’s but not the TT Business version. So do you have to file the whole return by mail versus E-file? If so that’s ridiculous!! Alternatively, I assume you amend the return and manually enter the 1099B.
You have to print and mail the 1099-B statement along with the return.
I have seen other post indicating that you can add the 1099B as additional pages to the 8453-FE attachment. Has this worked for anyone?
@Don KCG wrote:
I have seen other post indicating that you can add the 1099B as additional pages to the 8453-FE attachment. Has this worked for anyone?
I have attached an example of that, but I have PDF software that allows the user to combine PDFs.
It works, obviously, but I have absolutely no idea if the file gets to the IRS in the correct format or if it gets to the IRS at all.
Frustrated that Turbo Tax 2020 Business doesn't seem to allow you to attach a document even though the instructions clearly say you can.
Here's how to file your statement(s):
If you are e-filing your tax return, you will need to attach a PDF copy of your 1099-B or broker statement(s) when you transmit your return. We will guide you through this process at that time.
If you are not e-filing, then mail your 1099-B or broker statement(s) with your entire tax return to your local IRS office.
Hi,
I have the same issue with turbo tax for Business 2020.
I have been using turbo tax for business for the past 6 years and this is the first time that this functionality is not available.
Today, I called Turbo tax support ( [phone number removed] ) to report this issue and the answer was that functionality is not supported any more.
I was in shock with that answer. I think that Intuit has lost the goal to offer the best tax return software to their clients.
Anyway, I opened a case to request this functionality again to turbo tax for business.
I got a case number.
let see if they can deliver a fix and keep their customers happy again !
I will like to see other members of this community calling Turbo tax to request the fix as I did today.
BIG BOO ON MISSLEADING INFO ON THE DETAIL ON 1099B FILING.
EXPECTED MORE FROM INTUIT.
@Anonymous_ Actually, Turbotax claims it is supported. Under Investment Income, Stocks...Summary for this Account, you will see "To finish reporting these sales, follow the filing instructions." Click this link and you will see this:
...Here's how to file your statement(s):
If you are e-filing your tax return, you will need to attach a PDF copy of your 1099-B or broker statement(s) when you transmit your return. We will guide you through this process at that time.
Then you are never given the opportunity again to attach anything except for the 8453-FE. Very poor on Turbotax's part. From what I have read, I bet they removed the functionality but failed to remove the instructions.
@MattRo wrote:
From what I have read, I bet they removed the functionality but failed to remove the instructions.
That would be my guess but I would not bet on anything with respect to the program. For all we know, it could be restored at any time in an update.
Attention:
If your Box A transaction are all without adjustments, Form 8949 is not required. No mailing is necessary.
Only wash sales have to be detailed.
TurboTax has started suppressing Box A with no adjustments,
without telling you that there is nothing to mail.
Hi,
Unfortunately, Turbo tax is offering a poor support and the Case that I opened has not been review since I opened it, 3 weeks ago, by the software team.
This is a SHAME.
So, my company will not be able to report the form 1099-b on the tax return online.
Next year, I will review the other options in the market !
@afffcompanies wrote:Next year, I will review the other options in the market !
That will be a short review because you only have a couple of other options with respect to consumer-level tax preparation software for business entities.
While you might find one that has this particular functionality, I can assure you that some of the other functions to which you have become accustomed with TurboTax will be lacking.
Super bummed to discover this problem. I file two trust tax returns (1041s) every year, and being able to attach a copy of the 1099-Bs for each is a HUGE time saver, since of course you cannot import the data from the broker! Expected (like others) to be prompted for the attachment during e-filing (like last year), but the request never came. Transmitted both 2020 returns electronically without the 1099-Bs. Will wait to see if the IRS salutes.
the behavior of TurboTax with this feature seems to be erratic.
some users see the prompt and others don't.
TurboTax has not documented this as a feature.
Turbo Tax 2021 Business is not prompting for attaching 1099 B (capital gains). Is a fix coming?
@Hoover324 wrote:
Turbo Tax 2021 Business is not prompting for attaching 1099 B (capital gains). Is a fix coming?
No. Import options for TurboTax Business are limited to QuickBooks data.
I saw that also for 2021 Business for LLC package. It allows you to enter summary information and effectively says don't worry about it...
Thanks for the info @fanfare !
I confirmed this is how TT is behaving by temporarily adding a .01 cost basis adjustment wash sale, then continuing and TT prompted to attach the form. I skipped upload then went back and removed the adjustment and no more prompting to attach form.
Would be nice if they told you there is nothing to attach, since my first 1099 did require it and I didn't realize why until finding @fanfare 's reply.
I have been a TurboTax user since 1987 and a solid believer/support in their products. Now that I am responsible for filing taxes for a Trust, I find their products to be wholly inadequate.
I am SO disappointed.
First, Home and Business cannot help you file taxes for a Trust, you MUST use TurboTax Business. Why is that a problem? TurboTax Business does NOT provide functionality to import investment information from ANY brokerage firm. Note that Home and Business does have that functionality. Second, I spent one hour each with two different people to determine the above information BEFORE my issue was escalated because I asked for it. Only then were they able to determine that that functionality was not available.
In 2021 (my 2022 file is corrupt), TurboTax Business had functionality to give Summary Data for Investments because you have to physically send the IRS the 1099B statements along the tax return since TurboTax Business does not provide functionality to e-file it that includes your 1099B. In 2021, Business used to ask if the sales were reported to you on a 1099B form and if you answered YES, it would open Form 8949, an Exception Smart Worksheet, that allowed you to enter Summary Sales Data. In 2024, that functionality no longer exists; it opens to individual transactions. In order to enter Summary Sales, you need go to FORMS and open 1099B, scroll down to the Exception Smart Worksheet, and enter the information. While I talked to TurboTax Support to understand why I could no longer enter Summary Data as in past years, they said that if they were going to show me how to enter my tax information, they would need to charge me for that! Very disappointed!
I read comments in the discussion sections and find that in 2020, TurboTax quit supporting functionality for