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Turbo Tax question: repeating imports for different incomes?
02-05-2015, 02:20 PM
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#1
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Full time employment: Posting here.
Join Date: Feb 2014
Posts: 731
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Turbo Tax question: repeating imports for different incomes?
So, be gentle - first time Turbo Tax user question....
I'm stepping thru the different income types for things like 1099-INT and -DIV.
Do I need to keep importing the same consolidated statement from Fidelity for each of these income types?
I would think that TT would be 'smart' enough to know about the first import.
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02-05-2015, 03:06 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,371
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Just going from memory, when I downloaded mine from Vanguard it showed the various tax documents available for each log in and I did them all at once (one download for my and our joint account documents) and another download for DW's accounts. So I checked 1099-R, 1099-DIV and 1099-B, as applicable for each account and they all come in at once. Easy peasy.
__________________
If something cannot endure laughter.... it cannot endure.
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Slow and steady wins the race.
Retired Jan 2012 at age 56
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02-05-2015, 03:29 PM
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#3
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Recycles dryer sheets
Join Date: Jun 2010
Location: Sac suburb
Posts: 437
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I'm not sure if it's the same for Fidelity, but at Vanguard, tax forms for brokerage accounts won't be available until mid-Feb, although the tax forms for mutual fund accts are available now.
So if you have mutual fund & brokerage accts, you may want to hold off until you know all the forms are available & then download them all in one fell swoop.
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02-05-2015, 03:34 PM
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#4
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,128
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 Quote:
Originally Posted by Rosie
I'm not sure if it's the same for Fidelity, but at Vanguard, tax forms for brokerage accounts won't be available until mid-Feb, although the tax forms for mutual fund accts are available now.
So if you have mutual fund & brokerage accts, you may want to hold off until you know all the forms are available & then download them all in one fell swoop.
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Exactly.
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Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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02-05-2015, 03:48 PM
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#5
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Full time employment: Posting here.
Join Date: Feb 2014
Posts: 731
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Fidelity has posted what is called their Consolidated 1099 Form with all the appropriated income types specified.
So....was expecting Turbo Tax to know how to deal with that by parsing thru the data....guess not as I ended up importing the same document more than once.
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02-05-2015, 07:38 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 4,366
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I've never had to download one tax form multiple times.
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02-05-2015, 09:20 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,241
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I do not remember checking off the various tax forms as someone mentioned (does not mean I did not do it... just cannot remember).... but TT downloaded all the tax info from Vanguard at one time.... all dividends and sale of shares...
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02-06-2015, 07:50 AM
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#8
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,128
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Quote:
Originally Posted by Texas Proud
I do not remember checking off the various tax forms as someone mentioned (does not mean I did not do it... just cannot remember).... but TT downloaded all the tax info from Vanguard at one time.... all dividends and sale of shares...
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That is my recollection of events as well. I just looked at my account and it has all the forms ready for the IRA account and mutual funds but not for the ETF's. I'll wait until all forms are ready in case I don't get the option to pick and choose which forms to update.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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02-06-2015, 09:06 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Location: Columbus
Posts: 1,118
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Quote:
Originally Posted by Rosie
I'm not sure if it's the same for Fidelity, but at Vanguard, tax forms for brokerage accounts won't be available until mid-Feb, although the tax forms for mutual fund accts are available now.
So if you have mutual fund & brokerage accts, you may want to hold off until you know all the forms are available & then download them all in one fell swoop.
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I imported all my Vanguard account info earlier this week.
Sent from my iPhone using Early Retirement Forum
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Ohio REFI PE ENG and Investor as of 2016
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