Tax Documents and TurboTax

Hi SoFI,

Just for planning purposes, at what point in the new year will our tax documents get posted to our account and will there be an automatic import into TurboTax available (similar to what Robinhood has)? Thank you!

Comments

  • Christina KChristina K Member, Administrator, Moderator, Sofi Team admin

    Hi Alex - 1099s will be produced and distributed in late January or the 1st week in February. There is an import link to TurboTax as well as a table with details on your purchases and sales over the year including cost basis and gains or losses.
    Hope that helps!
    Christina

  • Alex LAlex L Member

    Great, thank you!

  • Are these coming out this week? Currently Feb. 2nd and haven't seen anything in the online portal under the "documents" section of the Wealth Account. Thanks.

  • Christina KChristina K Member, Administrator, Moderator, Sofi Team admin

    Hi Ron - 1099 forms will be available in the Documents section mid-month. Hope that helps.
    Christina

  • Ahmad SAhmad S Member

    Hello,

    Where can I find the link to import my tax documents into TurboTax?

  • Christina KChristina K Member, Administrator, Moderator, Sofi Team admin

    Hi Ahmad -
    You can view your 1099 in Your Document Center under Tax Documents. Transferring the 1099 data is initiated within TurboTax. If you are letting the software guide you:

    • it will ask if you want to import data from a financial institution - say yes
    • there will be a way to select financial institutions - choose Apex Clearing
    • when you are asked for the user ID, input your account number: 5RS0_ _ _ _
    • when you are asked for the password, input your Social Security number with no dashes.

    Then follow the directions in the software. It should put everything in the correct places on your tax form.

    You can also download your 1099 data into H&R Block, or TaxAct tax software. Each product does it differently, but in each case the process is similar to above.

    Hope that helps!
    Christina

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