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TT needs this ONLY if you want them to import tax forms from your broker, otherwise you need to click the box to enter the data from your 1099's yourself.
You are signing into your brokerage account in order to download your financial data.
TurboTax is not saving this info.
Click this link for more info about How to Import Financial Transactions.
They do this to import your tax forms from the brokerage, but of course it's totally insecure. They say that they don't save it, but there's no way to be sure. And there's no way of knowing what exactly they do when they log in using your password.
If you want to keep your brokerage account safe, don't share your password with anyone. Change it immediately if you already entered it in Turbotax.
There's an option to enter your 1099 form data manually.
How can I see my broker password that I am entering on the screen? I use a strong password for my broker account (gibberish) and it is impossible to enter it covered up in asterisks. It is very frustrating having to enter it all manually. Having all this security to cut and past and asterisks should be an option for users, not mandated by the software.
It is not mandatory. There's an option to enter your 1099 form data manually.
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