TurboTax is a fantastic software that is best for preparing American income tax returns. The developer of this software is Intuit. With the help of this software, people can easily file their e-filing tax returns in just simple steps. The TurboTax software/application is compatible with various devices and operating systems, such as iOS, Android, Mac, and Android.


Additionally, you need to import the essential data to TurboTax. Also, it saves taxpayers from the hassle of filing their taxes. And you do not need to worry about making any mistakes as it has incredible features that offer error-free results. So, in this blog post, you are going to learn about the steps of importing the data to the software.


Importing Equity and Equity options data


  1. First of all, you have to invoke the TurboTax on your device. And go to the Federal Taxes tab.
  2. After that, you need to click on the Wages & Income option and scroll down the Investment income section.
  3. And then, move to mouse on the Start option next to the Stocks, Mutual Funds, Bonds, and Other and click on it.



  1. Once you select the start button, the software will ask for your permission Did you sell any investments in 20XX (current year). Then you have to click on the Yes option if you have closed a position in a non-IRA account and received a consolidated 1099.



  1. Now, the software will ask you if you received a 1099-B; Choose the Yes option if you did.
  2. Afterward, the TurboTax software will ask you How do you want to enter your Form 1099-B into your return; select the option Import from my bank or brokerage.



  1. Next, you are required to move to the search section and search for the tastywork When you see the option, click on it.


After that, type your tastyworks account number and social security number/TIN (do not use dashes.)



  1. Then click on the Continue option.
  2. Note- (Make sure you only type the non-ira or non-qualified account in the account number field. Additionally, your IRA account does not receive a consolidated 1099.)


  1. To get access to the account number, you have to log in to tastyworks.com. (You will see your account number in the Account Status Area.
  2. When you enter your tastyworks account details, you will be able to see your information. (This process may take some time.)



  1. Once the information is retrieved, you will see that These Documents are ready for Import; select your account and click on the Import Now option. (If you merged 1099, including a form of 1099-DIV, Form 1099-INT, Form 1099-OID, or Form 1099-MISC, then you will see them here).



  1. After choosing the Import Now option, it will ask you to Tell us if any of these apply to your sales. Select any condition that applies to you; otherwise, you can choose None of these apply to me. Click on the Next option.
  2. Now, you can easily see your transaction data. Scroll down and click the Done option to select them.



What to do when I have more than 2000 transactions?

You can get an error message if you have 2000+ transactions. So, below are the guide to getting rid of this problem.


  1. When you see the pop-up, Your request exceeds the maximum tax records allowed by Turbo Tax; you need to click on the OK option.


  1. After that, click on the back option two times. It will take you to the Let Us Enter Your Investment Sale Info. The TurboTax has limitations, so you need to choose I’ll type it in myself and then select continue.
  2. Now, the TurboTax software will ask Which bank or brokerage sent you this form? Then from the drop-down menu, select  My bank/brokerage isn’t here. (After that, in the section of the “Name of the Bank” or “Brokerage Field,” enter tastywork and then enter the tastyworks account number.



  1. Next, you have to go to the Summary of Sale Proceeds page in your Consolidated 1099. It will show you the Cost Basis and total proceeds.
  2. Note– In the below image, I’ll select a summary for each sales category. And then, choose the total Proceeds and Cost Basis and then choose the Sale Category.


  1. You must choose the I need to enter amounts from box 1f, box 1g, or other adjustments if your account was subject to wash sales.
  2. Once you enter the Cost Basis and Proceeds, the software will ask, “Do you have another sale to enter from your tastyworks 1099-B?” Additionally, you have to click on Yes If you had any profit/loss from positions subject to Long-Term or Unknown Term. Otherwise, you need to select the No option.
  3. Now the software will sum up your total profit or loss.



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