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Originally Posted by capecoralbill
I am using H&R blocks tax cut tax prep program, and I cannot import from Charles Schwab, however I did successfully import from etrade, and fidelity brokerage. Is anybody else having trouble, is at Charles schwab's problem,?
I telephoned Charles Schwab and they said it was turbotax's problem. I don't believe them. Anybody else have trouble only with Charles Schwab like I am?
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who cares how many years one has been using turbotax, one's experiences with each year's program is as unique as the tt program and the user. I have found bugs in the cloud version, so the software is not infallible. This year, I had to delete an entire return file, and redo it again because of a wrong check box in the review I could not get rid of anywhere. I could not file electronically with this box checked. Don't think that software is perfect or don't think that your experience will be the same for everyone.
I have done both, imported and done by hand. In the latest 2021 turbo tax, there is an option which I used this year, to enter the transaction summary, which retiredguy123 suggests, and then uploaded the pdf version of the year end tax return statement from your brokerage for backup. If they disagree, then they will review the financial document.
The one individual issue is that if you have any sales with no cost basis, which occasionally happens due to spin offs/transfers, etc, In this scenario, you need to enter all manually, or parse out that/those individual transaction(s) from the total and add that manually. you will need to either accept zero as the tax basis, (the IRS will never question that) or enter a cost. If the cost is missing from the brokerage account, then you do you best research for the price. Example would be an inherited stock which would have the price of the stock at the date of the death of the individual. Knowing that you can search for the price of the stock on that day, pick the highest of the day.
Also, the wash sale calculation is a grey area with a vague definition application in some cases. In this case, you may want to change the cost basis or wash sale indicator from the brokerage very conservative, tax compliant method. In this case, individual entry is required and adjustments made.
Good luck, and don't stress, you are a needle in the haystack, there are millions of tax returns, running on fortran or some ancient software.
finance guy