Using TT foe 18+ yeasrs, have major issues with 8949 download? fromIB

[mjpb52]

According to my paperwork from IB everything is correct no issues but with download via TT missing information for presently 4 seperate dowloads. Incorrect or no costs foe too manr entries.

[DaveF1006]

Here are a couple of things you can do.

1. The "Delete and Re-import" (The Firefox Trick)

1. Many users have found that Microsoft Edge and Chrome are the culprits.
2. Delete the current IBKR imports entirely from your "Investment Income" section.
3. Set Firefox as your default browser temporarily.
4. Try the import again. This often bypasses the security "handshake" issues that cause missing data fields in Chrome/Edge.

2. Use the "Totals" Method (Saves your Sanity)

1. If you have hundreds of entries and the basis is still missing, don't enter them one by one. 
2. In the Investment section, choose "I'll type it in myself."
3. Instead of individual trades, enter the Sales Section Totals directly from your IBKR 1099-B (e.g., "Total Short Term - Box A").
4. TurboTax will then allow you to attach a PDF copy of your IBKR statement to your return as the supporting documentation for the 8949. This is IRS-legal and much faster.

In the second method, you can report the summary totals and efile your return. You will then be instructed to send a copy of your IBKR 1099-B (Consolidated Tax Statement). along with a form 8453 that is part of your paperwork for your return.

• Print Form 8453: TurboTax will produce this after you e-file. It acts as a cover sheet. 
• Check the Box: Ensure the box for "Form 8949, Sales and Other Dispositions of Capital Assets" is checked on the 8453.
• Deadline: You must mail the 8453 and your statements within 3 business days after you receive word that the IRS has accepted your e-filed return.
• Address: The mailing address will be printed on the Form 8453 instructions generated by TurboTax (usually it's the IRS service center in Austin, TX).

 

[mjpb52]

Thank you two down and one to go. None of the browser changes  worked .  The actual problem is correct 1099B and 8949 at Interactive brokers, but via turbotax conduit a lot of costs,dates,and some proceeds missing managed to manually enter and fixed. Note a lot of trades multiple transactions, seem to be at the Turbo Tax end with all the issues if only we can go direct from TT to IB without Turbo Tax conduit.

Now I have the last one and very complicated with quite a few 8949 to mnaully imput.

[mjpb52]

I am on the 2nd to last download of 1099B and 8949. I am totally amazed at the incompetence of Intuit . I received supporting information unfortunately the program downloaded 45 entries and as a day trader no problem will have multiple pages and need to add possibly 80 more entries manually. 

Of course any complaints on Facebook is up for review.