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March 22, 2023
Question

Can I import 1099b info from my financial broker, when turbotax doesn’t ask?

  • March 22, 2023
  • 1 reply
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originally TurboTax asked if I want to import 1099b info but then it stopped asking. Now I want to import again how do I do it?

1 reply

March 22, 2023

Yes, you should be able to import even if TurboTax doesn't prompt you.

 

  1. Sign into your TurboTax account.
  2. Select Pick up where you left off
  3. Select Federal from the left side menu, then Wages & Income.
  4. On the Wages and income screen, scroll down to Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) and Edit/Add. 
  5. Continue with the onscreen interview and select Okay! on the screen Time to kick off your investments! OR Yes on the screen Did you sell any of these investments? then Continue
    • If you see Your investments and savings or Your investment sales summary, select Add investments or Add more sales
  6. Continue until you get to the Let's import your tax info screen.
    • To import your form, select your brokerage or financial institution from the list. Enter your sign-in credentials for your account, then select Get my form
  7. On the following screens, answer the questions about your 1099-B
  8. When you reach the Review your sales screen, the form you just entered should be listed
    • If you need to add another 1099-B, select Add another sale. Otherwise, Continue

Your total capital gains for the year minus your total capital losses result in a net gain or a net loss.

  • You can deduct a net loss of up to $3,000 ($1,500 if married filing separately). Any capital loss you couldn't deduct this year can be carried forward and deducted on future tax returns as a capital loss carryover.

 

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