Navigating tax season can be daunting, but tools like TurboTax aim to simplify the process. One of the most convenient features is the ability to import your tax documents directly from financial institutions like Wells Fargo. This can save you a significant amount of time and reduce the chances of errors.
Ready to streamline your tax filing? Let's dive into the step-by-step guide on how to connect your Wells Fargo accounts to TurboTax and get your taxes done with ease!
Connecting Wells Fargo to TurboTax: A Comprehensive Guide
Importing your tax data from Wells Fargo into TurboTax is generally a straightforward process, but it's important to understand the nuances, especially when dealing with different types of Wells Fargo accounts (e.g., banking vs. investment accounts).
Step 1: Prepare Your TurboTax and Wells Fargo Accounts (Engage User!)
Alright, before we jump into the actual connection, let's make sure we're both on the same page. Think of this as getting your ducks in a row!
A. Ensure TurboTax is Up-to-Date
First things first, is your TurboTax software or online account updated to the latest version for the current tax year? This is crucial because financial institutions constantly update their systems, and TurboTax needs to be in sync.
For TurboTax Desktop: Open the application and look for an "Update" or "Check for Updates" option in the menu (often under "File" or "Help"). Run any available updates.
For TurboTax Online: The online version typically updates automatically. Just make sure you're accessing the correct tax year's return.
B. Gather Your Wells Fargo Login Credentials
You'll need your Wells Fargo User ID and Password. Make sure you have these handy and that you can successfully log in to your Wells Fargo online account directly (outside of TurboTax) to confirm they are correct. This will prevent connection issues later on.
C. Identify the Type of Wells Fargo Documents You Need
Wells Fargo issues various tax documents. Understanding which ones you need to import will guide your process. Common ones include:
Form 1099-INT: Interest Income
Form 1099-DIV: Dividends and Distributions
Form 1099-B: Proceeds From Broker and Barter Exchange Transactions (for investments)
Form 1099-R: Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
Form W-2: Wage and Tax Statement (though typically directly from your employer, some payroll services linked to Wells Fargo might offer it.)
Pro-tip: While many forms are available, it's always a good idea to have a copy of your physical or digital tax documents from Wells Fargo as a reference, just in case. You can usually access these via the Wells Fargo Tax Center on their website.
Step 2: Initiating the Import Process in TurboTax
Now that you're prepared, let's start the import! The exact steps might vary slightly depending on whether you're using TurboTax Online or the desktop software, but the general flow is the same.
A. Navigate to the Import Section
Open your Tax Return: Launch TurboTax and open the tax return for the relevant tax year (or start a new one if you haven't already).
Find the Import Option:
In TurboTax Desktop, go to File > Import > From Financial Institution.
In TurboTax Online, navigate to the section where you enter income. You'll typically find an option like "Import from a financial institution" or "Add a financial institution." Look for the specific income type you're dealing with (e.g., "Investment Income" for 1099s, or "Wages & Income" for W-2s, though W-2s are less commonly imported directly from banks).
B. Select Wells Fargo
Once you're in the import wizard:
Search for Wells Fargo: In the list of financial institutions, start typing "Wells Fargo."
Choose the Correct Entity: This is critical! Wells Fargo can appear in several ways. You might see:
Wells Fargo (for general banking accounts, like checking or savings with interest)
Wells Fargo Advisors or Wells Fargo Clearing Services, LLC (for investment accounts, including 1099-B, 1099-DIV, 1099-INT from brokerage accounts, and 1099-R for IRAs).
If you have investment accounts, it's highly recommended to select Wells Fargo Advisors or Wells Fargo Clearing Services, LLC, even if your general banking is with Wells Fargo. Users have often reported more success with this option for investment-related forms.
Step 3: Authorizing the Connection
This is where TurboTax securely connects to your Wells Fargo account.
A. Enter Your Wells Fargo Credentials
Login Screen: TurboTax will prompt you to enter your Wells Fargo User ID and Password.
Security Measures: You might encounter additional security steps, such as:
A security question from Wells Fargo.
A one-time passcode sent to your phone or email (multi-factor authentication). Have your registered device ready.
Confirm and Connect: After entering your credentials and any security codes, click "Continue" or "Connect."
B. Granting Permission (if prompted)
Wells Fargo might ask you to explicitly grant permission to Intuit (the company behind TurboTax) to access your tax information. Review the details and authorize the connection. This is a standard security measure to ensure you consent to data sharing.
Step 4: Importing Your Tax Data
Once the connection is established, TurboTax will begin retrieving your eligible tax documents.
A. Select Accounts/Documents to Import
Review Available Data: TurboTax will display a list of the tax documents and accounts it found at Wells Fargo.
Choose What to Import: Select the specific tax forms or accounts you wish to import. For example, if you only need your 1099-INT, you can often deselect other forms.
Initiate Import: Click "Import Now" or a similar button to bring the data into your TurboTax return.
B. Verify Imported Information
This is an incredibly important step! Do not skip this.
Compare to Your Documents: Carefully compare the imported data in TurboTax against your original Wells Fargo tax documents.
Check for Accuracy: Ensure that all numbers, dates, and other details match exactly. Look out for:
Interest income amounts
Dividend amounts
Cost basis information for investments
Dates of transactions
Any other relevant figures.
Make Adjustments if Necessary: If you find discrepancies, you can often edit the imported data directly within TurboTax. If the discrepancy is significant, or you're unsure, it's best to contact Wells Fargo for clarification on your tax document.
Step 5: Troubleshooting Common Issues
While the process is designed to be smooth, sometimes hiccups occur. Here are some common issues and their solutions:
A. "Something Unexpected Happened" or Connection Errors
Check Internet Connection: Ensure you have a stable internet connection.
Verify Credentials: Double-check that your Wells Fargo User ID and Password are correct by logging into Wells Fargo online directly.
Try a Different Browser: If using TurboTax Online, switch to a different web browser (e.g., Chrome, Firefox, Edge). Clear your browser's cache and cookies.
Disable VPN/Antivirus Temporarily: Sometimes, VPNs or aggressive antivirus software can interfere with the connection. Try temporarily disabling them (remember to re-enable them afterward!).
Wells Fargo Advisors vs. Wells Fargo: As mentioned, if you have investment accounts, always try "Wells Fargo Advisors" or "Wells Fargo Clearing Services, LLC" even if your regular banking is "Wells Fargo." This is a frequent fix.
Wait and Retry: Sometimes, financial institution servers or TurboTax's import servers can be temporarily unavailable. Wait a few hours and try again.
B. Missing Documents or Data
Document Availability Dates: Tax documents are released by financial institutions at different times. Wells Fargo typically makes most 1099s available for import starting around mid-February. Check Wells Fargo's Tax Center for specific availability dates for your forms.
Incorrect Wells Fargo Entity: Ensure you selected the correct "Wells Fargo" option in TurboTax (e.g., Advisors vs. general banking).
Account Linkage: Confirm that the accounts you expect to see are linked to the User ID you're using.
Manual Entry: If all else fails or if your document isn't importable (e.g., a specific W-2 not offered via import), you can always manually enter the information from your physical or PDF tax document. This is a reliable fallback.
C. Password Issues with Special Characters
Some users have reported that if their Wells Fargo password contains special characters (like #, $, !, etc.), TurboTax might struggle with the import, even if the password works directly on the Wells Fargo website. If you encounter persistent login issues and have special characters, consider temporarily changing your Wells Fargo password to one without special characters, import your data, and then change it back if you wish. (Be mindful of security when doing this.)
Important Considerations:
Tax Year Specificity: Ensure you are working on the correct tax year in TurboTax.
Desktop vs. Online: While the principles are similar, the interface and specific menu options might differ slightly between TurboTax Desktop software and TurboTax Online.
Security: Always ensure you are on the official TurboTax and Wells Fargo websites when entering your sensitive information. Be wary of phishing attempts.
10 Related FAQ Questions
Here are 10 common "How to" questions related to connecting Wells Fargo to TurboTax, along with their quick answers:
How to access my Wells Fargo tax documents online?
Log in to wellsfargo.com, select "Accounts" then "Statements & Docs," and then "Tax Documents." Choose your account and the document type/tax year.
How to know if my Wells Fargo W-2 can be imported into TurboTax?
W-2 forms are typically imported from your employer's payroll provider, not directly from Wells Fargo as a financial institution. Your employer must be a TurboTax Import Partner, and your W-2 must be available for import (usually by February 1st).
How to troubleshoot if TurboTax says "Something unexpected happened" when connecting to Wells Fargo?
Verify your Wells Fargo login credentials, try a different web browser, clear your browser's cache and cookies, temporarily disable VPN/antivirus, or try the "Wells Fargo Advisors" option even if you're using a general Wells Fargo account.
How to find "Wells Fargo Advisors" in the TurboTax import list?
When prompted to select your financial institution in TurboTax, type "Wells Fargo" and look for options like "Wells Fargo Advisors" or "Wells Fargo Clearing Services, LLC." Choose this option for investment-related forms (1099-B, 1099-DIV, etc.).
How to manually enter Wells Fargo tax information if import fails?
Within TurboTax, navigate to the relevant income section (e.g., "Investment Income," "Interest and Dividends") and choose the option to "Type it in yourself" or "Enter manually." Then, input the data directly from your Wells Fargo tax document.
How to resolve issues if my Wells Fargo password with special characters isn't working for import?
Some users find success by temporarily changing their Wells Fargo password to one without special characters, completing the import, and then changing it back if desired.
How to import an amended Wells Fargo tax form into TurboTax?
You can re-import the amended form using the same steps. TurboTax usually allows you to update existing imported information or add new forms. Alternatively, you can manually adjust the figures in your TurboTax return.
How to ensure all my Wells Fargo accounts are imported?
When TurboTax connects to Wells Fargo, it should show you all available tax documents tied to your login. Make sure you select all the relevant accounts/forms during the import confirmation step. If a specific account's tax document is missing, it might not be available for import yet or could be under a different Wells Fargo entity (e.g., "Wells Fargo Advisors" for investment accounts).
How to find out when my Wells Fargo tax documents will be available for import?
Check the Wells Fargo Tax Center on their official website (
How to verify imported data from Wells Fargo in TurboTax?
After the import, TurboTax will often show a summary. Crucially, navigate to the specific forms within TurboTax (e.g., 1099-INT, 1099-B) and compare every line item against your original Wells Fargo tax document to ensure accuracy.
