Importing 1099 from Goldman Sachs is not complete

Forum|Forum|1 year ago
January 24, 2025
5 replies
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I was able to import some data from the 2024 "1099" from Goldman Sachs - but not all accounts were imported.

The import to TurboTax grabbed my interest from my online savings account correctly but from only 1 of my 20 certificate of deposits I have with Goldman. The 20 CDs all have unique account numbers. So, 19 accounts (CDs) that I earned interest on in 2024 were not imported into TurboTax.

Do you suspect I did the import incorrectly? I did phone Goldman Sachs but they were unable to provide me with any clarification.

Best answer by baldietax

just tried it tho I normally just manually input, and sure enough it doesn't work, only does the savings and first CD account which happen to be on the first page of the 1099.

also it will create a line item for each account on your Schedule B which isn't necessary.

either way it's simpler to just manually input a single 1099-INT for Goldman Sachs with the total - tho annoying you do have calculate that, Goldman does not provide a summary total on the 1099-INT.

taxlady28

Other users are having issues with 1099 forms this year, If you import, then go over the forms thoroughly and be sure everything is correct. You can also enter the 1040 manually.

Jonathan1Author

Employee

Yes, will do that. Thanks for the reminder. When I downloaded the 1099 from Marcus (Goldman Sachs) it was a PDF file. I was hoping there would be other file type options to select - such as Excel so I could more readily add up the various interest in a spreadsheet. I was able to export the PDF to Excel via Adobe Pro and that facilitated adding up all the accounts.

mesquitebean

Employee

@ Jonathan1

I'm asking this out of curiosity. Have you looked at a PDF or hardcopy printout of your 1099-INT from Goldman Sachs?

If so, does the first page end with CD #1, and is the second page an interposed page of text information, before the other CDs continue on the third page? The reason I ask is because in previous years Ally Bank has had a problem with importing because that text page in the middle of it appears to disrupt the import file. I realize Goldman and Ally are 2 different financial institutions, but am curious if the same phenomenon may be occurring. I know that in previous years some users have had trouble with Goldman Sachs, too, but I don't know if it's the same cause.

@ SteamTrain Do you have a comment on this?

Jonathan1Author

Employee

Yes, exactly as you describe. There are several lines of text after the information for the first CD is listed. After that first CD, the other CDs don't have such text.

Mike9241

Contact GS. Some accounts may not have the 1099s ready for import. Sometimes, the forms won't be ready until mid-February or even later

when importing always check against actual forms. some things do not import.

Jonathan1Author

Employee

Thank you Mike. Appreciate the reminders.

baldietaxAnswer

just tried it tho I normally just manually input, and sure enough it doesn't work, only does the savings and first CD account which happen to be on the first page of the 1099.

also it will create a line item for each account on your Schedule B which isn't necessary.

either way it's simpler to just manually input a single 1099-INT for Goldman Sachs with the total - tho annoying you do have calculate that, Goldman does not provide a summary total on the 1099-INT.

Jonathan1Author

Employee

Thank you for confirming. I am in total agreement with your findings. In this instance, much more efficient to add it all up and enter to TT. I, too, would have desired that at the very least a summary total by Marcus/Goldman would have been included in their statement. And, the ability to save the Goldman Sachs document as an Excel or other spreadsheet file document. I was able to convert the PDF and that helped me.

Thanks for your follow-up.

choll

I'm having exactly the same problem importing from Marcus GS; only the first page on the 1099-INT is imported and not the rest. Good thing my wife noticed. NOT GOOD TT! 😖

baldietax

wow this issue goes back 3 months, wonder how many people mis-reported their 1099s. TT did a bunch of import fixes a few weeks back I would have thought this would be fixed.

replied to the other thread but at this point just enter the 1099-INT manually, it's usually straightforward (and quicker than all this importing imo - avoid PDF upload also) - not sure what TT version you are on but you should see a function to add new investment, "skip this import" and then enter the information. Unless you have some state requirement for more info on the 1099 all you need is a payer name and Box 1 (or others with amounts) - all the other payer information (address, TIN etc) is not needed for filing.

and just the total for each box you don't need to enter each individual account/CD etc. Marcus is super annoying that they don't provide this, most banks do the math.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-form-1099...