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February 26, 2025
Question

I want to import composite 1099- Vanguard MF. It will not parse the several MF in the composite. TT doesn't have a field "Vanguard-Mutual Funds."

  • February 26, 2025
  • 2 replies
  • 0 views
Entering INcome section. NO option to import composite Vang 1099 for MF. Also TT can't parse the MF information that comprise composite 1099. It could last year.

    2 replies

    CatinaT1
    March 5, 2025
    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    SteamTrain
    Employee
    March 5, 2025

    If you converted, or were forced to convert your Vanguard MF accounts to their Brokerage account...then yes, all the data is reported on just the one 1099-DIV form and is not broken up.

     

    In a way, it is simpler for the taxpayer to enter just the one form.

    ....with the exception of attempting to break out the $$ in box 12 that came from your own state's bonds

    _______________________

    For box 12, you can just assign it all to "Multiple States" (the very last selection on the pull-down list of states) and be done with it.  You are not "required" to break up the state sources, it you assign it all to "Multiple Staes"

     

    or if you live in an income-taxing state, you can break out your own state's bond $$ form the rest, using the Supplemental data sheets Vanguard sends you, and calculate the different amounts for each bond fund, and add them up as one value.   You would have had to calculate them separately anyhow if you were going to do this. 

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