TaxAct® FAQ

Import tax data from your Ameriprise Financial tax statements into a TaxAct tax preparation software or online product tax return.

 

Important notes about your tax data import:

  • By accepting and using the import you assume full responsibility for the accuracy and security of the information on your tax return. 
  • Following the import, carefully review and compare all items in the import against your tax statement(s) and your own records to verify that all reportable activity is accounted for and accurate.
  • TaxAct is not affiliated with Ameriprise Financial, Inc.

Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation. 

General Information

Where can I find my login credentials for TaxAct?

The Package ID and Document ID found on the second page of your tax statement package(s) are your login credentials. Your login credentials are different every year.

Each 2019 year-end tax package you receive from Ameriprise will have different login credentials and must be imported separately.

Type in all capital letters (no lower-case) and include spaces when entering your Package ID and Document ID.  The security verification protocol is both case and space sensitive. Note the Package ID for nonqualified tax forms has eight characters with no spaces.

  • Qualified tax package example:
    • Package ID: 0003 7341076 133E6C8
    • Document ID: 0M01N7RXPHF3MZC
  • Nonqualified tax package example:
    • Package ID: 67283417
    • Document ID: 4VM97KW865NAL12

If you receive corrected tax statements your log-in credentials will always remain the same as they were on the year-end tax package. For more information, see “If I receive a corrected tax statement, will the updated tax data be available to import?” below.

Who is able to import account information into TaxAct?
  • Ameriprise clients who have access to the TaxAct online software can use the import feature. See the list of tax statements that can be imported below in “Which tax form data will be available to import?”
When will 2019 tax data be available to import?
  • 2019 tax data will be available to import starting in early February 2020 after tax statements are mailed and available online.
    • Review the tax statement mailing dates to determine when tax data will be available for various products and statements.
    • You will receive an invalid login error message if you attempt to enter your login credentials before the data is available.

Note: Until tax data becomes available in early February, you will see a screen “No Documents Currently Available for Import”, which lets you know when tax data for various statements will be available to import. Attempts to download tax data prior to those dates will be unsuccessful and result in an error message.

  • Tax data for tax year 2019 will remain available for import through the middle of October 2020, in consideration of the expiration of the 2019 filing extension when the IRS discontinues e-filing.

Note: Victims of natural disasters may receive an extension on their tax return filing. However, tax data for tax year 2019 will no longer be available for electronic import to tax preparation tools after October 2020. For details about the filing extension, see Tax Relief in Disaster Situations on irs.gov.

Which tax information will be available to import?
  • Form 1099-B, Proceeds from Broker and Barter Exchange Transactions
  • Form 1099-DIV, Dividends and Distributions
  • Form 1099-INT, Interest Income
  • Form 1099-OID, Original Issue Discount
  • Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.

Remember:

  • If you receive more than one year-end tax package from Ameriprise, you must import each package separately. View "Import tax data" section below for step-by-step instructions.
  • If you receive corrected tax statements, additional imports or manual adjustments to your tax returns may be necessary. For more information see “If I receive a corrected tax statement, will the updated tax data be available to import?” below.
  • Supplemental statements or supplemental information are not available for electronic import because we are not required to report that information to the IRS. See the following question for more information.
Which tax information will NOT be available for import?

Information from the following tax statements, issued by Ameriprise, is not available for electronic import. If your tax package contains only statements listed below, you will see receive an invalid log on error message after you enter your login credentials.

  • Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains
  • Form 5498, IRA Contribution Information
  • Form 5498-ESA, Coverdell ESA Contribution Information
  • Form 1099-MISC, Miscellaneous Income
  • Form 1099-Q, Payments From Qualified Education Programs (Under Sections 529 and 530)
  • Form 1097-BTC, Bond Tax Credit
  • Form 1099-LTC, Long-Term Care and Accelerated Death Benefits
  • Form 1099-SB, Seller’s Investment in Life Insurance Contract
  • Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding

Additionally, supplemental statements and supplemental information are not available for import because we are not required to report that information to the IRS.

For example, ordinary loss for an Ameriprise Stock Market Certificate (SMC) reported on the Detail for Interest Income supplemental statement will not import and must be manually entered into the tax return. Ordinary loss reported on the Detail for Interest Income page may occur when the participation interest payment for a Stock Market Certificate is less than the total OID accrued during the term. There may also be ordinary loss reported on form 1099-B, Proceeds from Broker and Barter Exchange transactions if a client surrenders a Stock Market Certificate early, before the term-end. The Form 1099-B ordinary loss information is available for electronic import.

Please work with a qualified tax professional to ensure that you manually input all required and necessary information into your Federal or state tax return, as applicable.

What should I do if I receive more than one year-end tax statement package?
  • If you receive more than one tax statement package, as many clients will during the 2019 tax season, you will need to import the data from each package separately.
  • For example, if you receive a tax statement package that contains tax data from your IRA account (e.g. Form 1099-R) in early February, and in mid-February you receive tax data for your nonqualified brokerage account (e.g., Form 1099-DIV and Form 1099-B), you will need to go through the data import process separately for each package.
  • If you receive corrected tax statements, additional imports or adjustments to your tax returns may be necessary. For more information, see “If I receive a corrected tax statement, will the updated tax data be available to import?” below.
If I receive a corrected tax statement, will the updated tax data be available to import?
  • The tax data you import is the data we have available at the time of the import. If you receive corrected tax statements, additional imports or manual adjustments to your tax returns may be necessary.
  • Any corrected tax information will be available to import at the time the corrected tax statement is mailed and the corrected data will overlay the original data when it’s imported, as long as no manual updates have been made*.
  • We will mail you only the tax statement that is being corrected or any new tax statements. If you previously received other 2019 tax statements that don’t require a correction, they will not be re-sent to you.
  • The Package ID and Document ID which are your log-in credentials will always remain the same as they were on the year-end tax package. Any subsequent import using these log-in credentials will capture the most up-to-date tax data for all accounts with 2019 tax data available for import for that package.
  • If you receive a corrected tax statement, delete previously imported data. Then follow the “Import tax data” steps below to import your updated tax data into your tax return. 

* Critical: If you imported tax data and then made manual changes to it - for example, you added or changed a dollar amount or a date of purchase – the manually added or updated data will remain in your return and will not be automatically replaced when you import your amended tax package. To avoid data duplication, you will need to manually delete any of the documents that you made changes to before attempting to import again. Visit the support tab on the TaxAct website to learn how to manually delete tax statements.

How can I get additional assistance?
  • If you have questions about the tax data that is provided from Ameriprise Financial during the import, please contact our Customer Service Center at 800.862.7919.
  • TaxAct offers support for their tax preparation products at (319) 373-3600. 
  • A comprehensive list of Help Topics for TaxAct products is available on the TaxAct website.
  • More help is available at the TaxAct contact service & support center.

Tax data import for clients

How do I import my Ameriprise tax form data?

Start your tax return in the most current desktop or online version of TaxAct filing software.  Be sure to download updates to the program, if prompted.

You can access a copy of your Ameriprise tax statements on the secure site on ameriprise.com to reference as you work on your tax return. Register or log in. Some annuity tax statements are only available on riversource.com. Log in

  • Click "Statements & Documents"
  • Select the Tax Statements folder
  • Select the year 2020 (the year that the document was made available on the secure site)

Start your online tax return or log in to your existing TaxAct return.

  1. Go through the questionnaire screens updating and verifying your personal information. Click "Continue" at the bottom of each screen to flow to the next screen until all information has been updated/verified.

  2. On the Federal Quick Q&A Topics screen, click on the Investment Income drop-down menu and select the 1099 import link.

  3. Click on the green Electronic Import button and Choose Ameriprise Financial from the Import Partner drop-down menu. 

  4. On the Ameriprise Financial landing page; enter your Package ID and Document ID, which can be found on the second page of your tax statement package. Click "Import." 

    • Package ID: Enter without spaces (e.g., 1234567890)
    • Document ID: Enter without spaces, not case sensitive (e.g., 123A BC4 5678 may enter 123abc45678)
  5. The message “Success” will notify you the import was successful and will display the forms you imported. Click on the "Edit" link to see additional details about each tax statement. 
    Note: The amounts in the import will be rounded up to the nearest whole dollar amount without any decimals, per IRS guidelines.

  6. Confirm all forms you expected were imported and verify the data imported into your TurboTax return matches the data on the tax forms in your Ameriprise tax package(s) before clicking "Close" to move to the next step in the TaxAct tax preparation process.

Remember:

  • If your tax package contains multiple types of 1099 forms, you only need to perform the import once to get all of the tax data imported into your tax return.
  • If you receive more than one year-end tax packages from Ameriprise, you will need to go through all of the steps above to import each package separately.
  • If you receive corrected tax statements, additional imports or manual adjustments to your tax returns may be necessary. For more information see “If I receive a corrected tax statement, will the updated tax data be available to import?” above.

Tax data questions

Can I import cost basis and holding period information from a sale of securities into a TaxAct return?

The cost basis and holding period reported on Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, associated with sales of covered securities* is available to import into your TaxAct return. Cost basis and holding period information for your noncovered sales transactions, displayed on Form 1099-B, will also import into your tax return even though we don’t report it to the IRS.

  • The information held in our records may not reflect all basis adjustments that would be necessary for calculations of the basis of securities that are sold.
  • For noncovered shares, adjustments related to wash sales, cash transactions associated with corporate actions such as mergers or spin offs, unit investment trusts, and widely held fixed investment trusts and other activity may not reflect accurate cost basis.
  • If you have received your shares through a gift, inheritance or divorce, the cost basis may not have been adjusted. Please review cost basis information with your tax accountant and make adjustments as appropriate to your tax situation.
  • It is important that you verify data using your records when calculating gains or losses for tax reporting purposes. To adjust the information, you will need to edit the imported information.
  • We may not have cost basis available for import in some situations. You will need to manually enter any cost basis and acquisition date information that is missing, using information from your own records.
  • Please see the instructions associated with your tax statements for more information. For questions on how to complete your tax returns, it is recommended that you speak with a tax professional.

*For an explanation of cost basis reporting regulations and covered vs. noncovered investments, see Cost Basis Reporting FAQs.

How will the information from Form 1099-B, Proceeds from Broker and Barter Exchange Transactions, appear on my tax return?

Individual transactions reported on Form 1099-B will be downloaded to IRS Form 8949, Sales and Other Dispositions of Capital Assets. Totals from Form 8949 will automatically calculate to IRS Form 1040, Schedule D.

How does mutual fund date of acquisition import from Form 1099-B, Proceeds from Broker and Barter Exchange Transactions, to Form 8949, Sales and Other Dispositions of Capital Assets, for open-end mutual funds?

Date of acquisition, Box 1b on Form 1099-B, will display “various” if the sale involves tax lots purchased on multiple dates. If the sale involves a single tax lot purchased on one date, Date of acquisition, Box 1b, will display the actual date of the purchase.

Clients who have had multiple sales in 2019 may see both “various” and actual dates in Date of acquisition, Box 1b, depending on the tax lots that comprise each sale.

Date acquired on Form 8949 will display either “various” or an actual date based on what was reported on Form 1099-B.

Consult a tax professional and the IRS instructions for IRS Form 1040, Schedule D, Capital Gains and Losses, for additional information on reporting the date acquired.

TaxAct® is not affiliated with Ameriprise Financial, Inc.
Neither Ameriprise Financial nor its representatives or affiliates may provide tax or legal advice. Consult with your tax advisor or attorney regarding specific issues.
Ameriprise Financial Services, Inc., Member FINRA and SIPC.