Can anyone help? I got error message: "This import was unsuccessful. There isn't any tax-related info to import right now..." It's TurborTax Desktop for Tax yr 2021.

Forum|Forum|1 year ago
August 5, 2024
2 replies
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    It occurred yesterday (Aug. 4, '24) when I'm doing my return for Tax21.  The software works without any other issue except this error message.

    I've confirmed with a Fidelity Representative:  tax info (e.g. data of 1099 forms) "import" function is available from Fidelity's system for at least past 7 years.

   I also noticed even though TurboTax displays a Fidelity logo and "Enter the information below to access your available investment tax forms...", but there is no box/field letting me enter my user ID/password (so that TurboTax can access my info at Fidelity.)
   And there's no instruction telling me to enter user ID/password anywhere else. And I did not see any obvious pop-up in my Chrome browser (witch was open at that time).
Please help!!!

TurboTax Online

Best answer by rjs

The Fidelity representative might have meant that you can download a PDF of your consolidated 1099 statement from your account on the Fidelity web site for 7 years. But that does not mean that you can import the past-year 1099 data into TurboTax. TurboTax does not get the data from the PDF. As far as I know, importing 1099 data into TurboTax is only available for the current tax year.

rjsAnswer

Employee

DoninGA

Employee

TurboTax cannot import tax forms that are not for the current tax year. So the 2021 Form 1099-B from Fidelity cannot be imported. You will have to manually enter the 2021 Form 1099-B.

baballew

This is helpful, and wish I had read it days ago after hours of frustration. It never occurred to me that only this year was available for import from fidelity.........with a hundred small sales, it makes a difference.

rjs

Employee

@baballew

You don't have to enter all the individual sales in TurboTax. You can make summary entries. Select "I'll enter a summary for each sales category." Then you enter just the total proceeds and total basis for each category. The four possible categories that you would have are:

Box A - Short term covered
Box B - Short term noncovered
Box D - Long term covered
Box E - Long term noncovered

"Covered" means basis was reported to the IRS. For sales with basis reported to the IRS (covered sales) that's all you have to do. For sales with basis not reported to the IRS (noncovered sales) you have to print a copy of the pages of your Fidelity statement that show the 1099-B details for the noncovered sales and mail it to the IRS. Since you are filing for a past year you have to file by mail, so you just attach the copy of the 1099-B pages to your tax return (at the back).