Does anyone know how to import just one account at a time for Fidelity (or another any other brokerage for that matter) under the same login into TurboTax?
Every year I just input my Fidelity login/password and it pre-loads all the information into TurboTax. While this is definitely great/convenient - I have a few different accounts (for different reasons) and would like to understand the tax impact of each component.
Any suggestions?
Fidelity TurboTax Import - Allocation of Taxes Across Accounts
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Re: Fidelity TurboTax Import - Allocation of Taxes Across Accounts
In each section (IRA, Interest, Div), you can elect to import.
When I do my TT fidelity import, it shows me all of my accounts which are linked in my Fidelity account (even spouses). I can then uncheck accounts I don't want imported. I do this because I like to import my backdoor roth/IRA info separatly than when I am processing my INT/DIV items.
When I get to each section in TT, I then rinse-repeat, and import just the relevant accounts.
When I do my TT fidelity import, it shows me all of my accounts which are linked in my Fidelity account (even spouses). I can then uncheck accounts I don't want imported. I do this because I like to import my backdoor roth/IRA info separatly than when I am processing my INT/DIV items.
When I get to each section in TT, I then rinse-repeat, and import just the relevant accounts.
Re: Fidelity TurboTax Import - Allocation of Taxes Across Accounts
The marginal tax rate of each component will depend on what you have assumed for the other components.portfolio123 wrote: ↑Tue Jul 27, 2021 9:29 pm ...would like to understand the tax impact of each component.
E.g., if filing single and under age 65 with $12550 interest-only income from both accounts A and B, whichever you add first will have zero federal tax impact, and the second one will incur federal tax of $1310.
In any case, you could enter the Fidelity info by hand instead of importing....