Question

2021 TurboTax Desktop is importing 2022 documents from E*TRADE

Forum|Forum|3 years ago
March 24, 2023
1 reply
0 views

Why is this happening?

TurboTax Home & Biz Windows

Employee

Most, if not all brokerages took down their 2021 tax files back between June and Nov of 2022.

These are special files created for tax import (and not like the PDF copies you may have).....so all that is available now are 2022 tax files......2021 wouldn't be in there.

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If you are working on 2021 taxes now, you'll probably have to enter the $$ manually using yoru PDF/paper copies on your desk.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

M

mr_hbbtAuthor

Well that is all good. I get it that brokerages remove the previous years documents from their computer systems. But can TurboTAX be smart enough to figure it out. the 2021 turbotax downloaded all the 2022 documents and even more interestingly (or stupidly depending on your view point) it incorporated them into 2021 tax forms even though all the transactions were in 2022!

Does that make sense?

SteamTrain

Employee

@mr_hbbt

No, it doesn't make sense.

BUT.....I have no idea how the Brokerages are supposed to arrange their tax import files to let the software know what year it is for, and to avoid such screw-ups.

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For instance: I just tried to download tax documents from Fidelity using my 2021 Desktop software...and it says nothing is there for me. Yet downloading using the 2022 software gets me my Fidelity data for 2022 just fine. So, there is apparently something in those import files that lets the software know it is only for 2022......at least for the way Fidelity formatted the files for importing into the software.

And we get tons of folks every year complaining that they can't import a non-current year dataset into the desktop software for some older year......so it's working for some brokerage's tax import files.

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Now you know you have to check......complaining to ETrade may or may not help.....soemthing would have to be worked out between ETrade and TTX computer gurus as to what needs to change to avoid wrong-year confusion..

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*