Corrected 1099-DIV

Forum|Forum|3 years ago
March 13, 2023
4 replies
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I received a corrected 1099-Composite from Schwab. I had already imported the original 1099-DIV, so I first deleted that import and went through the steps to import the 1099-COMP a second time. Turbotax is still importing the original 1099-COMP. I called Schwab and their technical team said that it is a known problem with Intuit that corrected forms sometimes do not download.

How do I get Turbotax to download the corrected forms?

Best answer by JohnB5677

I suggest you simply manually correct the original 1099-DIV.

Select Federal
Wages & Income
Scroll to Investments & Savings and
select Show More,
Revisit next to Dividends on 1099-DIV - Okay!
You'll see the 1099-DIV listed there.
Select Edit.
Make any necessary changes.
Continue through the interview.

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rjs

Employee

You are not going to be able to get the import to work. It will take a lot less time, effort, and aggravation to enter the corrected 1099-DIV manually than to try to get the import to work. Schwab is pointing fingers at TurboTax, but TurboTax just imports what Schwab sends. You are not going to be able to get two big companies to agree on what the problem is and fix it.

JohnB5677Answer

I suggest you simply manually correct the original 1099-DIV.

Select Federal
Wages & Income
Scroll to Investments & Savings and
select Show More,
Revisit next to Dividends on 1099-DIV - Okay!
You'll see the 1099-DIV listed there.
Select Edit.
Make any necessary changes.
Continue through the interview.

If this does not completely answer your question, please contact us again and provide some additional details.

We are having an Ask the Experts event specifically about Crypto transactions on 03/15/23. Please register for it here.

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caphealy

Thank you for this suggestion. I had the same problem, but the IMPORTANT MESSAGE here is that one would not know the corrected document did not download unless one went into the various reasons for the correction and double checked. There SHOULD BE a warning on the imports page that corrected documents will not appear.

My download was from E*Trade.

BTW thanks TurboTax for dropping my phone call when I was in the queue for help.

tnyc1

This happened to me last year. I found that even though you see both an original and corrected 1099 in your brokerage account, initially only the original 1099 will upload. If you wait around 5-7 days after the Corrected 1099 is posted, then the Corrected 1099 will upload to Turbotax. Don't know why but waiting seems to have done the trick.