I have setup in my TurboTax account to have my tax data imported from Fidelity brokerage and from Schwab brokerage. I do not think the data will be formatted for importing until mid-February, which is understood and no problem.
My question is: Will I get notified by TurboTax when my data from each of these two sources has been successfully imported? If so, how will I be notified - by email or only by logging-in to my account?
NO...TTX does not automatically import the data,
......you have to actually go to the income page and start the import yourself.....whenever the Files are available.
__________________
I was able to initiate the import of my Fidelity 1099-DIV, -INT, -B yesterday....(even though they indicated 15 February one-to-4 weeks ago)
...BUT, their computers may not have them all ready at the same time, and if you have any REITs, those are typically not ready until March
SteamTrain - What? You are not comprehending what I clearly stated. Therefore, I think you are giving out incorrect information! 😠
The reason I say that is because it doesn't jive with the information I was given by TurboTax. I'll explain again...
I did indeed already go to the income page of my TurboTax account and made the request for TurboTax to import (from Fidelity brokerage and Schwab brokerage) BEFORE the formatted tax data was available. TurboTax stated at that time the TurboTax system would 'grab' my tax data when it becomes available for importing to tax preparation software. That means importing my tax data from Fidelity brokerage and Schwab brokerage is to be done 'automatically' without any further involvement from me (because I have already made the request for it to be imported). Do you agree or disagree with this?
Again, my simple question is: Will I get notified by TurboTax when my imported tax data has been successfully imported?
I think I'm right, as far as how it has worked, historically.
Could TTX have added some new auto-import function this year?...Possibly, but I haven't heard of it....and doesn't mean it isn't there.
Do what you want...wait a few weeks (no particular hurry) and see if any new 1099-INT, -DIV or -B data shows up in your file for those financial institutions. You can always initiate an import yourself in mid-March if nothing happens.
Geez! SteamTrain - You're wrong!!!
I got my answer! Now let me teach you something...
It's pretty bad when a TurboTax user (ME!) needs to inform a so-called Level 15 expert they are wrong and teach them about an important feature that TurboTax calls Auto-Import!!!
Auto-Import is a feature you can turn on for some financial institutions that lets TurboTax automatically import your tax forms as soon as they're ready.
We'll send you an email once we've imported the forms for you.
You can sign up for auto-import when you connect to a financial institution inside of TurboTax.
So, what is Auto-Import
SteamTrain - I hope you've learned something! Please say thank you! 😆
Below is a screenshot of my two linked brokerage accounts I setup (on 2/4/2025) to 'automatically' import my tax data when it is formatted and available to import into my TurboTax account. 😁
That is news to me too. Many of us who reply to questions here in the user forum are volunteers---we are not paid employees and are not always informed immediately when features change in the software. Keep in mind that you are being helped by people who are volunteering---so some appreciation for the effort to help you would be more suitable than condescension and irritability.
If “auto import” is a new feature, we have never heard of it. Hope it works for you. That screenshot doesn’t say it will automatically import when it’s available.
VolvoGirl - Really! Never heard of it?
My screenshot (in a previous post) is simply the two 'Auto-Import' financial institutions I setup to 'automatically' import my tax data when it’s available!
The information I posted below (from the TurboTax link) definitely states it will automatically import when it’s available! 😁
To learn about this 'new' TurboTax feature I've brought to your attention, click on this link: Auto-Import
Auto-Import is a feature you can turn on for some financial institutions that:
lets TurboTax automatically import your tax forms as soon as they're ready.
We'll send you an email once we've imported the forms for you.
You can sign up for auto-import when you connect to a financial institution inside of TurboTax.
Now you know!
I hope it helps you to help others...
always review all imported data for errors ( not uncommon) whether imported manually or automatically.
Also expect validation errors due to the way some transactions are presented to TurboTax.
Also anticipate missing transactions on printed forms due to the way TurboTax chooses to hide certain Box A or Box D transactions.
In other words, chaos.
fanfare - Why did you post that? It has nothing whatsoever to do with the topic of this thread! 😡
I find it really strange you are criticizing TurboTax's import accuracy, defining it as 'chaos'.
I find your admission of validation errors and hidden data pertaining to TurboTax to be downright scary...
This TurboTax Community help is really quite bizarre...
For reasons listed, I don't use Transaction Import.
I enter Form 8949 data on my own after inspection of the broker's 1099-Bs.
Wow, very interestng....So far, that appears to be a function only for the "Online" software. I haven't found it anywhere on the Desktop software (yet).
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Yes, you do need to review those imported documents anyhow....not that those providers would be wrong, BUT if you have any Muni Bond income showing in box 12 of a 1099-DIV, or box 8 of a 1099-INT form, you will need to indicate whether it came from (usually) "Multiple States" , or if you want, to indicate what sub-portion of the tax exempt $$ came from you own state or any US territories. That information is not delineated in the imported data. (Of course, if you live in Plano TX, then that doesn't apply to you since you don't have state income taxes, BUT you would need to select "Multiple States" for all of it anyhow)
If you buy any bonds during the year, where you paid accrued interest for the bond, then there may be some special step you need to take to report that too...but that's beyond the subject of this post.
xmasbaby0 - I think TurboTax customers looking for answers that come to the TurboTax Community expect the advice they receive to be accurate.
I understand it is volunteers replying to user questions, however this community forum is supposed to be moderated by TurboTax 'experts' to ensure that the information shared is accurate...
FYI: The TurboTax Premier 'Auto-Import' feature was introduced back in 2019
to
automatically
import investment transaction
tax data.
@Bob in Plano That is misleading since TurboTax has no way to know if you have any type of bank, brokerage or financial account.
You can import your W-2 using TurboTax, see this support FAQ - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/import-enter-w-2/L55HzdeDr_US_en_US?uid=m6w9un7q
You can import a Form 1099, see this TurboTax support FAQ - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/import-1099s/L2hPcduMb_US_en_US?uid=m6w9vljm
DoninGA - Misleading!!! Really?
You ask - How does TurboTax know if I have any type of bank, brokerage or financial account? Because I setup to automatically import the data when it becomes available in my TurboTax account!
You need to stop misinforming TurboTax customers! You also need to get informed!
Read below:
I've noticed two disturbing issues with the TurboTax Community:
1- Oftentimes the volunteers that answer people's questions totally fail to read the entire thread to fully understand and actually comprehend the matter before they reply, which often provides incorrect, misleading information to anyone reading the thread.
2 - Denial; This is an example of the denial I've often seen in some volunteer's posts with other topics. In this particular case, the ongoing complete denial concerning the TurboTax feature 'Auto-Import' is preposterous!
This cannot possibly be what TurboTax wants in their Community...
Those of you who are still denying Auto-Import exists or have willingly bashed its accuracy are expressly damaging the TurboTax brand you have volunteered to help. Think about that! If you were a paid employee, that would be grounds for dismissal. Don't you think it's time some of you give this some self-thought and correct your position on the matter?
In addition, some of you are attaching a disclaimer (e.g.**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**). This is totally worthless and simply a CYA of admitting to the strong likelihood of providing incorrect information...
TurboTax customers deserve better than this...
I'm looking at you; fanfare, DoninGA and xmasbaby0
@Bob in Plano No denial, just not aware and leery of marketing type information from TurboTax. Too many times burned by BS.
However, after checking with the Moderators of this forum, there is a TurboTax support FAQ for the Auto Import -
@DoninGA - That's pathetic! Absolutely appalling!!!
You said, [you are] quote; " leery of marketing type information from TurboTax because "t oo many times [you've been] burned by BS
Don - I personally think whoever at TurboTax oversees this forum should ban you and prevent you from ever again offering your view or advice to customers or possible customers on the TurboTax Community forum.
You are clearly harmful to the TurboTax brand by stating the above quoted bolded red
Your comments are a revolt against TurboTax, a rebellion that should not be overlooked by authorities at TurboTax...
If you were still in the Army and rebelled against your country, you would be dealt with strongly and appropriately served a dishonorable discharge! 😠
You should know better...
I started this thread with a simple two-paragraph post:
I have setup in my TurboTax account to have my tax data imported from Fidelity brokerage and from Schwab brokerage. I do not think the data will be formatted for importing until mid-February, which is understood and no problem.
My question is: Will I get notified by TurboTax when my data from each of these two sources has been successfully imported? If so, how will I be notified - by email or only by logging-in to my account?
But I've had to endure all this totally unnecessary crap from the community's [so-called] expert level volunteers... 😡
Looks like TurboTax was successful using the 'Auto-import' feature to automatically import from E-TRADE the 2024 tax data, and sent an email notification to let the account owner know the tax data was retrieved. 😃
FYI - I am happy to report that my 2024 Fidelity Investments [Brokerage] (a.k.a. National Financial Services LLC) tax data successfully
AUTOMATICALLY
Auto-import into TurboTax just like the 'Auto-import' feature said it would!
I used the TurboTax '
Auto-import
' feature for my 2024 Fidelity tax data to beautomatically imported
into my 2024 tax return without any further action from me. The Auto-import took place overnight (on 2/14/2025).
For all you TurboTax Community 'expert' nay-sayers - - Auto-import
is indeed real and it works!
🙄
However, I have not received notification from TurboTax (yet anyway) that the
Auto-import
of my tax data had been completed - though TurboTax states; 'We’ll send you an email once we’ve imported the forms for you.'
Being notified was actually the question and the purpose of this message topic!!!
Additionally, I fully expect my 2024 Schwab Brokerage tax data to be automatically imported into my 2024 tax return without any further action from me tomorrow (2/16/2025).
►Fidelity reported its 2024 tax data was ready for import on February 14th.
► Schwab reported its 2024 tax data will be ready for import on February 16th.