Importing Your 1099 Into TurboTax
TurboTax offers the option to import your 1099 form directly into TurboTax® tax software programs directly from your participating institution.
When asked by TurboTax® "How do you want to enter your 1099 into your tax return?" select the radio button that says "Import from my bank or brokerage" and select your participating institution from the list below. Once selected, you can enter your User ID and Password.
- User ID: Your account number
- Password: Your account Tax ID (usually, Social Security Number)
Your 1099 data is generally available for import around mid February. With all the variables in 1099's not all are available for import.
1099 Forms That Can Be Imported Into TurboTax
- 1099-B: Form 1099-B (Stock Gains and Losses) is issued by a broker or barter exchange and summarizes transaction proceeds. This includes the sale of any stock accompanied by a gains or losses that need to be reported to the IRS
- 1099-DIV: Form 1099-DIV (Dividends and Distributions) is used by banks and financial institutions to report dividends and other distributions to taxpayers as well as the IRS.
- 1099-INT: Form 1099-INT (Interest Income) is used to report interest income from brokerages, banks, and other financial institutions. These earnings always need to be reported, but are not always taxable.
- 1099-OID: Form 1099-OID (Original Issue Discount) is issued to you when you purchase a bond or note for an amount less than face value. This is the difference between the bond's stated redemption price (face value) and its issue price (amount the bond or note was first sold for).
- 1099-R: Form 1099-R, Distributions From Pensions, Annuities, Retirement
or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. This form is
used to report designated distributions for each recipient. These distributions
can include:
- annuities, pensions, insurance contracts, survivor benefit plans
- charitable gift annuities, etc.
- individual retirement arrangements (IRAs)
- permanent and total disability payments under life insurance
- profit-sharing or retirement plans
Limitations exist, you can import this data into TurboTax, provided your brokerage or financial institution is a participating TurboTax import Partner.
1099 Forms That Can't Be Imported Into TurboTax
These 1099 forms cannot be imported:
- 1099-A Acquisition/Abandonment of Property
- 1099-C Cancellation of Debt
- 1099-G Government and Unemployment payments
- 1099-K Credit Card & Electronic Payment Income
- 1099-LTC Long Term Care & Accelerated Death Benefits
- 1099-MISC Miscellaneous Income
- 1099-PATR Taxable Cooperative Distributions
- 1099-Q Qualified Education Payments
- 1099-SA HSA, Archer or Medicare MSA Distributions
- 1099-S Real Estate Transactions
- CSA and CSF-1099-R Statement of Annuity Paid
- RRB-1099 Railroad Retirement Payments
- SSA-1099 Social Security Administration Payments
How To Import Your 1099 Into TurboTax
- Access your TurboTax tax return
- Where it asks if you received your 1099 form, answer Yes
- The option to import is presented
You can also jump straight to this import section by searching using the "1099 form" keywords in TurboTax and then click the Jump to link from search results when they are presented.
Your 1099 should be ready for import by early February, so long as your bank or brokerage is a participating TurboTax import Partner. If not available at that time, the availability date your bank or brokerage provides will be displayed.
