With Turbotax Business Desktop, how do I Import Brokerage/1099 Data?

[iOne]

With TurboTax Desktop I known that I can import Schwab data directly. But now I'm preparing a trust tax return, form 1041.  There's a brokerage account involved, and stock transactions.

I'm not seeing the same option with Turbotax Business.

Is it possible to import the data using TurboTax Deluxe, then somehow transfer it to TurboTax Business?  If I can't do this with TT, what other tax preparation software can import brokerage data, for a trust tax return?

[Anonymous_]

" If I can't do this with TT, what other tax preparation software can import brokerage data, for a trust tax return?"

TurboTax Business can only import data from QuickBooks; it cannot import tax reporting statements from financial institutions. 

I know two major consumer-level tax prep software companies that do not support importing data from Schwab (one does not support importing 1099-B forms from any firm). There is another consumer-level tax preparation company that presumably supports importing 1099 data into its business program, but I have heard that the imports typically result in a big mess. 

[D000D]

Is it still true that Brokerage/1099s cannot be imported into TurboTax for Business? TurboTax personal can import Brokerage/1099s and it's now 5 years from the original post, so it seems like it should be possible now. Is it?

[VolvoGirl]

Sorry no.  You still can’t import to Turbo Tax Business.  

[b-e88]

Please confirm... I too have an account with CS.  The 1099 Composite is 30+ pages of data. 

$80 TurboTax Deluxe can import from CS but $190 Business everything must be entered by hand?

[MarilynG1]

Usually the 1099's (INT, DIV, 1099-B) are related to your personal return, so they can be imported into TurboTax personal products.

If you're using TurboTax Home & Business, you can use the Personal tab, under Investments, to import.

@beamcnish 

[normdd]

That is all fine, but TT Business is a separate product and it will not import INT or DIV from a bank.  Unbelievable.

[b-e88]

@MarilynG1

Trusts also receive INT and DIV and many other complex 1099 forms.  $190 Business, (not Home & Business) is the only Intuit product that allows filing a 1041, but does not allow for importing.