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Solved

Charles Schwab tax forms not importing in TurboTax

Forum|Forum|4 years ago
February 18, 2022
34 replies
0 views

Charles Schwab released their tax forms and I also have 3rd party enabled for TurboTax on their site.

But when I try to import Charles Schwab forms Turbo Tax Premier (desktop -mac) shows this message below in the screen "Sign on to Charles Schwab & Co., Inc" before even prompting me to enter my login info. There's nothing wrong with internet connection and I am able to import other forms. Please let me know what I may be missing. Thank you.

"This import was unsuccessful.

We recommend you check your internet connection and try again. If we still can't get your info, don't worry. We'll help you enter it manually so you can keep working on your taxes."

Best answer by susiequeue42

i had the same problem earlier today. i went to schwab.com, changed my schwab online password, then logged back in to schwab to be sure i saw my 1099 forms were available, then exited turbotax, fired turbotax back up, and started the process to import from them again. it worked after that. good luck.

Show previous replies

KMFDM

I'm suspecting the problem is related to this:

https://client.schwab.com/secure/cc/nn/security_tips_popup.html

It's a statement from Schwab about 3rd party access to user account information. I might be wrong, I might be right. Read it if you're interested.

deduction08

Not the issue, from the Schwab webpage. Note Intuit has an agreement.

So we are blaming the other guy instead of fixing the issue.

Q: Has Schwab agreed to Data Access terms with any third parties?

A: In 2020, Schwab has communicated, via press release, the successful signing of Data Access Agreements (DAA) with 3 prominent financial technology companies: Envestnet Yodlee, Intuit, and eMoney Advisor. These three companies comprise approximately 70% of data aggregation services used by Schwab clients. Schwab has already provided testing-based access to its API to several data aggregators who have been actively engaged with us to enable adoption of our more secure access method.

M Holcomb

Well, like others in this post, I finally was able to connect. I don't know what worked -- entering wrong login information, restarting TT, trying at odd times of day, sheer repetition, or what -- but I finally was able to download my info.

I suspect (and this is only a guess), that it's a capacity issue on the Schwab's side.

But TT could have been more helpful. The vague error message could have been clearer (what went wrong?), the suggestion to contact customer service could have been more specific (TT? Schwab?), and they could have provided a phone number.

Gerrywit

Why does Schwab 1099's fail to download in TurboTax Premier? I am very unhappy with this problem. How

can it be solved? [email address removed]

Gerrywit

I have resorted to entering my Schwab 1099's by hand. I bought TurboTax mostly to allow me to prepare

my taxes without the risk of making mistakes when entering by hand. I will not use it again as I am 85 years

old and cannot trust my skills of entering data!

eschirch

I am somewhat younger and still want the features for which I paid. I spent another 40 minutes on the phone with them yesterday yielding no progress. I'm unlikely to purchase again and will leave an honest, negative review at every opportunity.

consultjrc1

I have experienced extreme frustration with TT and the inability to download Schwab data. Spoke with Claude Sunday and, after viewing my screen, said he was escalating it and that it would be fixed. Tried to call now [phone number removed]) and use the case number but the robot said I couldn't speak to a person because I didn't have an account. Could be the last year I use TT.

Anyone have any new info?

BTW, I have desktop/CD deluxe version.

Fritz606

FIX THE CHARLES SCHWAB DOWNLOAD PROBLEM. I DONT WANT TO MANUALLY DO THIS --- TOO MANY ENTRIES. TRY FIXING THE PROBLEM OR GIVE ME MY MONEY BACK!!!!!!!

halesmail

Gadzooks, not only can't I download Edward Jones but I can't download Schwab either!!

I AM BEYOND PISSED!

OhioDave111

Tried same thing as susiequeue42 but nothing. TurboTax Ptemier in previous years has always imported Schwab 1099 with no problems. Tried half dozen times. TurboTax up to date too.

danhendel

Schwab got back to me tonight and they said to talk to TT and that TT is supposedly leading the team that is correcting the problem.

Anonymous

TT has an update - but still does not work with Schwab.. dunno what these folks are doing

hawke

I see this thread was started mid-February. April is around the corner. Why is this not fixed yet?

DChristmas1

I could not import Charles Schwab (CS) Tax Year numbers into Turbo Tax (TT). I followed advice to change CS password online and confirm I could download and see direct from CS. I then restarted TT. Got to the page to link to CS and a window popped up [Bank Login] that was blank/white. When I moved that window to a second monitor I could see content. However, when inputting user name and pass on second monitor no characters showed up. So I dragged the window back to main monitor and there it was with the typed data. I continued to type (blind) and drag across screens until all was entered. Then had similar struggle with the consent form. After about 15 minutes it finally worked. What a pain!

danhendel

Tried again. no luck. However, now the TurboTax app sends to me a link to manually enter the information manually. It didn't do this before so clearly, TT is now asking customers to manually enter information since they can't seem to correct the problem. oh well.

tubotaxsucks1

I have tried importing Schwab forms several times. It always fails. What gives?

absinthe

An email I received from Intuit customer support advised, "Our records show that this issue has been fixed in the latest TurboTax update, and you should be able to import your financial institution information."

Either the company's records are wrong or their claim about the records is not true. My TurboTax installation is up to date and has been every time I've attempted to import Schwab data. But I'm still getting the "login temporarily unavailable" notice. I am waiting for further assistance.

CarissaM

Please follow the instructions here to run a manual update on your software. This should help resolve the issue.

Please let us know if we can assist you further. @absinthe

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

rbhacker

New tax year, this time it worked. Fairly convoluted process as I had to go through multiple screens and approvals before Schwab allowed me to download my data to TT. But, it did go through eventually without any issues. My take is this is all Schwab. Last year they implemented a new security process that had not been fully vetted with TT and it was a HUGE problem. A year later - no issue. But, given the ease that I can download from my other brokerage account vs. the hurdles I need to jump to download to TT with Schwab - one has to wonder if Schwab really has their act together when dealing with 3rd party integration. IMHO

RLS1934

How do I get this help

We'll help you enter it manually so you can keep working on your taxes.?

GeorgeM777

In TurboTax online and in TurboTax CD/download, investment sales are manually entered in essentially the same way. In TurboTax online, you can manually report your investment sales as follows:

Sign-in to your account.
Select Federal in the left margin.
Select Wages & Income, left margin.
On Your Income and expenses screen scroll down to Investment and Savings.
Click on the drop-down arrow if necessary to reveal more options.
Click Start/Revisit across from Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
At the screen Let's import your tax info, you will see the option to Enter a different way. Select the latter.
Then select the type of investment. You probably want to select Stocks, Bonds, Mutual Funds.
Continue to enter information as prompted.
At the screen Now, choose how to enter your sales, make the appropriate selection. You will want to select One by one.
Enter your stock information.

If you are using TurboTax CD/download, the process is similar. From the Wages & Income tab, scroll down to Investment Income, and select Stocks, Mutual Funds, Bonds, Other. On the next several screens you can enter your information.

Your investment sales will appear on Form 8949, Sales and Other Dispositions of Capital Assets, and on Schedule D, Capital Gains and Losses.

@RLS1934

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