Why is 1099b import so difficult this year?

Forum|Forum|2 years ago
March 2, 2024
4 replies
20 views

In previous years I could import 1099b data from my financial institutions without difficulty. This year, after I import data I get questions from TurboTax about totals of short-term and long-term gains. This information is included on the 1099b so why I am I being asked to input this information again? This information wasn't requested in previous years, it was just taken from the downloaded data.

Can someone tell me why this process has to be harder than prior years and if there is just some way to tell TurboTax to get the data itself?

Thanks.

JamesG1

Level 15

After the download from Schwab, are you being asked to Review the transactions?

Are you being asked to enter information such as "I purchased the investment"? Or must you enter something else?

Many times, you are asked to Review the downloaded information to make sure that cost basis and transaction fees have been properly reported.

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rvmeushAuthor

Level 2

The questions being asked are for specific information already contained on the 1099b. Attached is a screen capture of one window that is presented.

JamesG1

Level 15

In TurboTax H & B, when downloading your Schwab information, did you follow these steps?

Across the top of the screen, select Personal.
Across the top of the screen, select Personal Income.
Select I'll choose what I work on.
Scroll down to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
Select Start/Update to the right.
At the screen Your investment sales summary, select Add more sales.
At the screen OK, let's start with one investment type, select Stocks, Bonds, Mutual Funds. Click Continue.
At the screen Let us enter your investment sale info, enter Charles Schwab @ Company. Click Continue.
At this screen, select Continue to download Charles Schwab & Company information.