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How to change Turbo Tax SCH D information imported from financial company
Old 03-18-2009, 10:58 PM   #1
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How to change Turbo Tax SCH D information imported from financial company


Has anyone run into this problem with TurboTax 2008, sch D?
I used the TT import function to import my schedule D information. Worked fine, data imported OK and to all the right section, long term, short term.

The PROBLEM: I review the imported data and discovered some errors, which Morgan Stanley sent me the corrections. I opened the sch D and found the form was "locked" and would not accept corrections or entirely new entries.
I did the "right click" to allow over ride and was able to enter text corrections and new text entries( column a) and numeric entries (column d, e) but Gain/ loss would not update. Also, new information would not flow to the 1040.

I talked with Turbo Tax, two different people and got two different answers. One confirmed that "there is no way to update/edit imported schedule D information". TT also has a information bulletin #1765 that implies you can change imported data, but it does not seem to work.

I have used TT for 10 years and even last year (2007) schedule D would accept imported data, hand entry and edits to any entry, imported or hand. Schedule was completely open and all changes flowed to 1040.

COMMENTS or experiences??
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Old 03-19-2009, 03:00 AM   #2
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usually you can right click and get an overide option.... i havent tried exactly what your trying to do.....
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Old 03-19-2009, 06:01 AM   #3
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Can you open a new Sch D outside of the program put data in that one and then delete the one in the program and import the new data? This maybe too convoluted to do and I am not sure it would even work. There must be a way around this but I am not sure as I use Tax Act.
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Old 03-19-2009, 11:21 AM   #4
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Instead of trying to mess with Schedule D, why don't you just go to the
EasyStep area, where you select individual income topics. You can select
the section where you enter all your stock sales (assuming you're talking about
that and not capital-gains distributions, in which case go to the dividend section).
Then simply delete the entries that have errors, and re-import them, or if that
still has the wrong numbers, enter them by hand.
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Old 03-19-2009, 08:51 PM   #5
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I was just changing my downloaded Schedule D info via easy step yesterday. It lists all the transactions with an edit button to the right. I didn't have any problem.

You may need to open the right worksheet to get at editable data using forms.
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Old 03-22-2009, 01:45 AM   #6
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Thanks to all the people who responded. I will have to try the "Easy Step"

Here is the answer.
(By the way calling Turbo Tax several different times received several different answers; none correct, ranging from (my comments in ITALICS “there is no way to change imported data. You will have to delete the schedule D and get Morgan Stanley to change the data and re import” GOOD Luck with that. “Go to the cell on the sch D, right click , select source and follow back to source, this gets close and will work if the data is not imported, won’t find source for imported data. Most TT people were confused between “Transferred and Imported” data. One person transferred me to the TT paid tax advice consultants, of course they had no idea how to change imported data.

Imported data is placed in a form called “Imported Stock Transactions worksheet”; data is transferred to the correct entries on the Schedule D and Schedule D-1 from this form.

There are (at least) two ways to view “Imported Stock Transactions worksheet”.

  • Select “View” from the top row of choices, from the drop down menu select “forms”. This will open a new window with your all of your tax forms listed in the left hand pane starting with Form 1040: Individual Tax Return. Carefully look down the list (organization of the list does not seem to be in any order) and locate the “Imported Stock Transactions worksheet”. In my listing it was the last entry before the State Tax forms listing. Double click on the form and it will open in the right hand pane. Each imported data item will have a separate section showing all items imported and blank fields for expected items. All fields can be edited, changes can be made to fields that have entries and blank fields can be populated. CHANGES WILL TRANSFER TO THE CORRECT SCHEDULE D OR D-1 FORM.
IMPORTANT NOTE: when you open the “Imported Stock Transactions worksheet” only ONE imported data set will show. There is the word “More….” in about the center of the form, really hard to locate because it is the same color and font as all the other text. Double click on “More…..” and all of the other imported data sets will appear.
Also, to scroll down, you have to select an entry, any entry, and then use the “slider” or down arrow key.
  • Second way: Across the top, select “Tools”, from the drop down menu select “My Tax Data”. A form will open with columns “Form and Line”, What you entered”, “Source”, “Go to Form” button and “Interview” button. This form shows just about all the data entries whether “transferred from last year’s return” , “User entered”, “Import”, or “Details”
Use the slider to scroll down to an “Import” entry you recognize and click “Go to Form”. The “Imported Stock Transactions worksheet” form should open and all of the comments in 1 above about the worksheet apply.

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Old 03-22-2009, 02:22 AM   #7
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A note: I use TTax 2008 Deluxe version, and as far as I could determine, the TTax Deluxe version for 2008 does not contain the "Easy Step". Could some one post a way to use "Easy Step" for 2008 versions?
Previous years had "Easy Step" but I believe the "Interview" process has replace Easy Step. "Interview " process does not have a way to edit import date, just referrers you to the information on how to import.

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Old 03-22-2009, 07:01 AM   #8
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Last year in 2007 it was called EasyStep. This year for 2008 taxes it's called Interview. I was using the deluxe version yesterday to do my Schedule D. I did download from my broker and I did have to do some edits ... most notably I had to enter CostBasis and DateAcquired for all trades at one of my brokers.

It was trivial to do. If you are looking at a tax form in the program, click on "Close Form" and you should be back to Interview. BTW, in my version of TT when you "Show Form" the screen is split between Interview at the top and the Form at the bottom.

Also I downloaded Sched D info from 3 different brokers and ALL of them were editable in the Interview window. The transactions are all listed with an "Edit" and a "Delete" button.
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Old 03-22-2009, 07:09 AM   #9
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To get to the Interview method of Schedule D:
Open tax return, click on View in the menubar, then Interview in the drop-down menu.
Click on FederalTaxes tab.
Click on Wages & Income tab.
Click on Select specific topics
Click on Investment Income + view list
Click on Stocks, Mutual funds, Bonds, Other ... Revisit
Click on No thanks.
You are there: "Investment Sales Summary"

PS: Friendly suggestion: Do your taxes when you are awake and not in the middle of the night.
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Old 03-22-2009, 02:46 PM   #10
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Thanks for your last post. I agree with the instructions you posted --- provides a third and different way to edit schedule D. Using the "Imported Stock Transactions worksheet" give access to all the imported information, but either of the three solves the immediate problem of general schedule D edits.

On a side note -- we have identified three ways to edit schedule D, yet TT telephone support (three different people) were unable to offer the correct answer. Could you post your answer to TT Live community forum? I believe it would be helpful. Any comments??

Thanks for your input.

PS: Friendly reply: Different people do their best work at different times of the day.
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Old 03-22-2009, 03:39 PM   #11
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I won't post to the TT community because it requires registration. As far as TT support goes, they were answering "how do I edit the imported transactions worksheet?" versus "How do I edit Schedule D transactions?". There is a subtle difference there.

My answer is exactly the same as that provided by Animorph and RustyShackleford. It's just that I gave all the mouse clicks. Frankly, I think most people would think the mouse clicks are too trivial to even list.
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