What is the proper user name to use when entering bank or brokerage firms? Name on the bank or brokerage account?

[TomYoung · Accepted solution]

Well, it's a "broker" that issues 1099-B's because the brokerage firm really sold the stock for you.

But, actually, it doesn't matter what name you use if you're entering your sales manually because there's absolutely no "broker/bank" identification that's included in the income tax return.  All security sales show up with the same basic information of

• Description of what was sold
• Date of sale
• Proceeds
• Date of acquisition
• Basis

The financial institution name is strictly for your use and utility.  So, for example, if you executed trades through 5 different brokerage firms and wanted to go back and edit or change a particular trade, you can quickly select what broker executed the trade.

Tom Young

[dlyon]

Can you import more than 2k transactions by breaking them up into separate listings or is the 2k limit for all brokerages? EG: brokerage ABC-1, Brokerage ABC-2. Would this cause any issues?

[SweetieJean]

Sorry, no. You can import up to 2,000 transactions using a desktop version of TurboTax and 500 transactions using TurboTax Online.