I went to import my 1099 info from Merrill Lynch, and it told me that 1099-INT, -DIV and -MISC forms were available, but the amounts on all three were $0. This is not correct, and in fact the Merrill Edge site tells me that my 1099 is not available yet. I'm not sure whose bug this is, but clearly it is not working correctly.
It was smart to check your Merrill Lynch account outside TurboTax. This was probably the reason TurboTax showed $0 for your import.
Click this link for info on How to Import Financial Transactions.
You can also enter a summary of transactions in lieu of individual transactions manually if you wish.
Click this link for more info on How to Enter a Summary in Lieu of Individual Transactions.
You missed my point. These forms should not be showing up as available, I should have been told that there was no data/forms yet, same as it does on my Fidelity account since my 1099 will not be ready there for another couple of weeks due to mutual funds that I own. Presumably when the 1099 shows up on their website (or shortly thereafter), the correct information will be available for download into TT.
It's a TurboTax bug, or in whatever decides that 1099's are available for importing.
Trying to import summaries from Merrill lynch and Merrill lynch edge.
I am using TT Deluxe. When I download the 1099s from Merrill Lynch, the download files show 0$ for int, div, and misc.
I also downloaded the tax files into a pdf to my pc, and they contain data, not 0$. There are too many entries to enter by hand.
@ahiestand That's interesting! My 1099 is still not available, so I haven't been able to try again. Sounds like there is a real bug there. When was your paper 1099 available? If it's just recently, the data might not have made it to the import tool yet.
BTW I assume you have the real 1099's available to download and not that spreadsheet which just have activity for the year. I only have the latter.
I have the same problem. The 1099's are available in Merrill Lynch. I can download the pdf files and see all the transaction details. However, when import to TurboTax it all become zero
Please give us a call for assistance with this issue by following these instructions: What is the TurboTax phone number?
Haven’t got paper 1099 from ML yet but TurboTax doesn’t even list ML only ML Edge in their list of financial institutions.
@s5slapshot2 Not correct. The entry is Merrill Lynch-Merrill Edge, I just checked. Searching on Merrill finds it.
Also did you login to their website to see if your form is available to download?
Must have changed since the last time I checked in. Thanks👍👍
@s5slapshot2 Don't think so. Maybe you were misspelling it.
Paper 1099s are in the mail, probably. Online forms became avail today (2/22).
@ahiestand Availability depends on your account holdings. I still do not have my 1099 available online. I have a file called "Visa" which only includes my transactions for the year, but not any tax info.
This is weird, but all my 1099s downloaded today (2/23).
I did NOT update TurboTax Deluxe. The ML files seem to be the same number of pages and same number of files. Names did not change either.
Something changed somewhere, but right now I don't really care. I just hope yours works too.
@ahiestand I'm sure it's because your paper 1099 became available yesterday, so it was available to import today. Mine is not available yet and when I import I get the $0 forms, which is clearly a bug.
Names aren't going to change because it's the same 1099 form except the data is finally there. Not sure how you can talk about the number of pages for imported data.
My 1099 is finally available on the Merrill Edge website today. Interestingly, when I try to import it on TurboTax, it now tells me that the information is not available but will be tomorrow. Previously it was letting me download forms with everything at $0. So either that bug is fixed (unlikely since it still was failing yesterday) or else the system is smart enough to know that form info is being processed and doesn't download the $0 forms at that point.
You may need to check your brokerage to see if they are allowing third-party access. Although the following Help Article is for Schwab, it is possible that your brokerage has restricted TurboTax's access to your statements unless you grant consent, and you might need to do something similar to what is described here How can I fix my 1099 import issue?
@CarissaM That canned answer is not the correct answer in this case. No special access is required to download from Merrill, and I am sure that my form will be available for download tomorrow. You experts have been absolutely no help in this thread.
I am attaching screenshots of what was previously imported into TT and the error I received when trying to import today.
Do not use the import functionality unless you have less than 5 transactions for the year. I tried importing from Robinhood and M1 finance and was unable to complete the e filing. I just deleted the import data and entered the summary sections and it worked fine.
That's odd. I've imported dozens of stock sales and never had a problem e-filing.