Unable to Import Schwab 1099 into Turbo Tax
Last year, when I tried to import my 1099 DIV from Schwab into TurboTax, I was getting an error message and it took me quite a while to figure out how to resolve this error. If you are getting this error: The bank needs you to do something on their site (108) while trying to import your Schwab 1099 DIV into TurboTax, then follow the steps below to resolve this issue.
- Once you are on the screen where you can import your 1099, click on the tab where it says Add another 1099 DIV.
- You will be directed to a page where the screen says “Get ready to be impressed.” Once you are on the page, tap on Continue.
- On the screen where it says Let’s import your tax info, click on Charles Schwab.
- Once you click on Charles Schwab, enter your login ID and password.
- Once you have logged in, click on Connect my account.
- Put a checkmark where it says I am not a robot, and then click on Continue.
- If you see a message where it says “The bank needs you to do something on their site (108)…”, go back to www.schwab.com, log in with your user ID and password, and click on your brokerage account.
- Once you are in your brokerage account, scroll down, and at the very bottom under Service, you will see an option which says Security Center.
- Tap on Security Center.
- Once you have clicked on Security Center, scroll down to the bottom of the screen. Under Third Party Access to Account Information, click on the radio button that says Enable Third Party Access, and then click on Save.
- Once the changes have been saved, return to TurboTax and try to download again your 1099 DIV by clicking on Continue on the page you have left off.
- Enter your Schwab user ID and password, and then click on Connect my account.
- Put a checkmark on the tab where it says I am not a robot, and then click on Continue.
- Once you click on Continue, you should be able to be connected and download your tax forms from your Schwab account.