Turbo Tax business - Import

[kgraghu]

How to import data from brokerage account in Turbo Tax business?

[Cynthiad66 · Accepted solution]

No. Unfortunately, TurboTax Business does not support importing tax reporting statements (such as a 1099-B) from financial institutions. Information from such statements must be entered manually into the program.

[kgraghu]

Thank you! I guess I need to enter only 1099-B data not all individual stocks and options transactions, Right?

[BrittanyS]

You can enter them individually or in groups as a summary, depending on how your 1099-B is listed.  To enter them into TurboTax Business, you will follow these steps.  

1. Click Federal Taxes
2. Click Wages & Income
3. Click Investment Income
4. Scroll Down to Stocks, Mutual Funds, Bonds, and Other
5. Follow the prompts to enter the 1099-B information
   • If you see Your investments and savings or Your investment sales summary, select Add investments or Add more sales
6. Enter data from 1099-B.  You can group sales as a summary depending on how they are listed on your 1099-B

@kgraghu 

[kgraghu]

Thanks but I don't see Wages & Income and Stocks, Mutual Funds, Bonds, and other sec. Are you referring Turbo Tax Business or Home & Business? 

[RobertB4444]

Those were the instructions for Home & Business, you are correct.  

To enter the 1099-B into TurboTax Business you will go to Federal Taxes, then Income, scroll down to Investment Income and click Start next to Capital Gains and Losses.

@kgraghu 

[kgraghu]

OK, Thank you!