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VAer
Level 4

Turbo Tax software: Section 1256 information is not imported

I used Turbo Tax website before, and it is my first year using Turbo Tax software, and don't feel it as easy as Turbo Tax website.

 

TD Ameritrade generates Consolidated Form 1099, and when I tried to import the form, and I don't see any information related to Section 1256. Does software work correctly?

 

It imported all the information correctly last year when I used Turbo Tax website. I never have separate 1099B.

 

Thanks.

 

 

Section 1256.jpg

 

Edit: It looks like I should click this button and manually update it, correct? It imported all the information when I used Turbo Tax website in 2021.

Contracts.jpg

 

 

 

TD 1099.jpg

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4 Replies

Turbo Tax software: Section 1256 information is not imported

go back to the "Tax Center" at TD and look for your futures 1099-B which is a separate document.

@VAer 

It was separate last year also.

VAer
Level 4

Turbo Tax software: Section 1256 information is not imported

@fanfare 

 

I have added screenshot in the post, and I don't have separate 1099B. Not this year, not last year, not before.

 

But I only started section 1256 trading since 2021 anyway.

Turbo Tax software: Section 1256 information is not imported

TurboTax and TDA do not seem to work together - at least on the 1099B futures data.  TDA provides the form, but TT does not import it.  TT imported the interest statement just fine.  Acts like futures trading did not occur.  Had to redo taxes 2021 due to this oversite.  Still, after another year, nothing.  Why can't you import this data, TT??

CarissaM
Intuit Alumni

Turbo Tax software: Section 1256 information is not imported

It would be best to click here to contact us by phone, so we can take a better look into this. 

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