Importing Stock transaction file from my stock broker

I am trying to import my stock sales transaction file from my broker, Fidelity Investments for the 2020 Tax return. As I do that, the Turbo Tax 2020 (Home and Business) goes to Fidelity web and tells me that the data will not be available until January 2022. Apparently, it is looking for my 2021 stock transactions. I went to the Fidelity website and verified that the .CSV for 2020 is there in my account. So, why is the 2020 TTAX software not importing 2020 data? Why does it thinks that I am trying to import the 2021 data?

Thanks for your response.

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Importing Stock transaction file from my stock broker

TurboTax does not import transactions from the .csv file that you see in your Fidelity account. It accesses a special file that Fidelity creates specifically for importing by TurboTax. Since the final extended filing deadline for 2020 tax returns has passed, I would assume that Fidelity has taken down the TurboTax import file for 2020.

You can only import brokerage data for the current filing year. Importing is never available for past years. Right now (in November 2021) we are between tax years. Filing for 2020 has ended and filing for 2021 will not start until sometime in January 2022. You can still file late, but only by mail. You can no longer e-file a 2020 tax return.

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Importing Stock transaction file from my stock broker

It is almost certainly because the 2020 return is past due, even if an extension was filed.

I am seeing the same behavior with several test returns and will report it to a moderator.

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Importing Stock transaction file from my stock broker

TurboTax does not import transactions from the .csv file that you see in your Fidelity account. It accesses a special file that Fidelity creates specifically for importing by TurboTax. Since the final extended filing deadline for 2020 tax returns has passed, I would assume that Fidelity has taken down the TurboTax import file for 2020.

You can only import brokerage data for the current filing year. Importing is never available for past years. Right now (in November 2021) we are between tax years. Filing for 2020 has ended and filing for 2021 will not start until sometime in January 2022. You can still file late, but only by mail. You can no longer e-file a 2020 tax return.

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Importing Stock transaction file from my stock broker

However, TTAX should be better than that. Late filing is common enough that TTAx should work by pulling correct data from the broker. My broker, Fidelity verified that they have data going back to the year 2014.

Incidentally, I was advised that a workaround might be to convert the broker's .CSV file into the .TXF file which can then be imported into TTAX. I have not yet found a file converter that works on my broker's .csv file.

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Importing Stock transaction file from my stock broker

I tried importing from 2 other brokers - the same issue only 2021 data available in 2/2022. I also went into the accounts to see if I could download a .txf file. only .csv or .xml were available so the issue could be with the brokers and not Turbotax.

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Importing Stock transaction file from my stock broker

As an active investor, or even occasional investor,

be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.

Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.

Category A and D are the covered transactions.

If you summarize (recommended),

you only need to supply details of 1099-B covered transactions with adjustments that are not listed on your e-Filed Form 8949. and all non-covered transactions not listed there.

In other words, for active investors, generally this is a list of the Wash Sales.

Note: turboTax 2020 may suppress some covered transactions without adjustments that you entered in detail. For those, no mailing is required !
--
If you have two pages (for example) of Wash Sales,
use Adobe Reader to print those two pages. That's all you have to mail to the IRS, given that those wash sales are not on your e-Filed form 8949 already.
(you might enter them manually if they are few in number.)

If you are filing on paper anyway, you can attach the details at the end of your tax return.