Importing Schwab 1099

JLFTUFreeForum
JLFTUFreeForum Member, Star Posts: 70 image
edited February 11 in General

Well, Schwab posted my Consolidated 1099 PDF.
I uploaded it into FTU and it did a good job. Sales of Mutual funds came across with no errors. Dates, Proceeds, Cost and Wash Sale came across properly.
Schwab also includes a Summary of the Sales. So FTU added those Funds again.
All I had to do is delete the duplicate entries.

Then I had to modify my import since most had Government Obligations that I am able to deduct some of Dividends from my State 1040.

I then checked the numbers (1040) after I made the changes with Schwabs 1099-INT and 1099-DIV the difference was just $1.00. That's normal.

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Comments

  • MatthewD
    MatthewD FreeTaxUSA Admin, FreeTaxUSA Agent Posts: 901 image
    Hi JLFTUFreeForum,

    Thank you for your contribution to the community and sharing this information with everyone.
  • Tio5ant
    Tio5ant Member Posts: 10 Newcomer

    I also received a Schwab consolidated 1099 pdf. I chose to enter the amounts manually since this is my 1st time using FreeTaxUSA. I was surprised at how easy it was to enter the data. I e-filed my returns yesterday and am very pleased that all went so smoothly. We had some changed tax situations this year, too. Our returns were accepted almost right away after filing, too. FreeTaxUSA has done a great job in keeping up with the new tax law changes also. This filing process was a lot easier than my previous tax prep company. I'm thankful that I decided to give FreeTaxUSA a try. I"m a happy new customer.☺️

  • TaxMorgan
    TaxMorgan FreeTaxUSA Agent Posts: 104 image
    Hello Tio5ant,

    We are happy to have you as a new customer and pleased that the software worked so smoothly for you!

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