Importing 1099 data into H&R Block if you use a password manager?

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F150HD
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Importing 1099 data into H&R Block if you use a password manager?

Post by F150HD »

H&R Block tax software
Anyone run into this? did you copy/paste your password from your password manager into H&R Block tax software to import 1099 info from respective brokerages? (still need to check it once its imported but....)
Am wondering if there are security risks in doing this? and if one should change all account passwords after doing the import.

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lazydavid
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by lazydavid »

I did it, and don't personally have concerns about it. My expectation (which of course I have not confirmed) is that it was only used locally by my copy of the program to grab the data and then discarded. And the actual password was only required for one of my accounts anyway (which currently has no holdings). For the others, they asked for the account number and the document number of the paper 1099 I was holding.

If you want to change your password immediately afterwards as an additional precaution, there's certainly nothing wrong with that. And obviously a PWM makes it pretty easy to boot.
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by JW-Retired »

F150HD wrote: Mon Feb 19, 2018 6:36 pm Am wondering if there are security risks in doing this? and if one should change all account passwords after doing the import.
I always do 1099 data manually. It really takes very little time and no worries about spreading around your account passwords.
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F150HD
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by F150HD »

JW-Retired wrote: Tue Feb 20, 2018 9:13 am
F150HD wrote: Mon Feb 19, 2018 6:36 pm Am wondering if there are security risks in doing this? and if one should change all account passwords after doing the import.
I always do 1099 data manually. It really takes very little time and no worries about spreading around your account passwords.
JW
Thanks. Though for multiple 1099s it can be a headache. Importing works slick w/ H&R, though I always go back and check the data anyway.
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F150HD
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by F150HD »

lazydavid wrote: Tue Feb 20, 2018 8:18 am I did it, and don't personally have concerns about it. My expectation (which of course I have not confirmed) is that it was only used locally by my copy of the program to grab the data and then discarded. And the actual password was only required for one of my accounts anyway (which currently has no holdings). For the others, they asked for the account number and the document number of the paper 1099 I was holding.

If you want to change your password immediately afterwards as an additional precaution, there's certainly nothing wrong with that. And obviously a PWM makes it pretty easy to boot.
Thanks.
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arcticpineapplecorp.
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by arcticpineapplecorp. »

you're uploading a pdf. how would that affect a password manager? I uploaded a 1099 and it was fine, but I don't use a password manager.
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by lazydavid »

arcticpineapplecorp. wrote: Wed Feb 21, 2018 8:27 pm you're uploading a pdf. how would that affect a password manager? I uploaded a 1099 and it was fine, but I don't use a password manager.
No, the software is connecting to your bank/brokerage to pull your 1099. To do that it needs information from you, which in some cases is your username and password for your online account at that bank/brokerage.
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by arcticpineapplecorp. »

lazydavid wrote: Thu Feb 22, 2018 5:38 am
arcticpineapplecorp. wrote: Wed Feb 21, 2018 8:27 pm you're uploading a pdf. how would that affect a password manager? I uploaded a 1099 and it was fine, but I don't use a password manager.
No, the software is connecting to your bank/brokerage to pull your 1099. To do that it needs information from you, which in some cases is your username and password for your online account at that bank/brokerage.
huh. I didn't have to do that and I used H&R Block software. I just uploaded the 1099 for interest from a bank (and manually entered the w-2s). I was curious what would happen withthe upload and it worked fine. I don't remember the program saying anything about contacting my bank.
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by lazydavid »

arcticpineapplecorp. wrote: Thu Feb 22, 2018 7:59 pm huh. I didn't have to do that and I used H&R Block software. I just uploaded the 1099 for interest from a bank (and manually entered the w-2s). I was curious what would happen withthe upload and it worked fine. I don't remember the program saying anything about contacting my bank.
This is weird. I didn't see the option to import a PDF, and you didn't see the option to fetch it from the issuer. I have no idea what's going on. :confused
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arcticpineapplecorp.
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Re: Importing 1099 data into H&R Block if you use a password manager?

Post by arcticpineapplecorp. »

lazydavid wrote: Fri Feb 23, 2018 5:23 am
arcticpineapplecorp. wrote: Thu Feb 22, 2018 7:59 pm huh. I didn't have to do that and I used H&R Block software. I just uploaded the 1099 for interest from a bank (and manually entered the w-2s). I was curious what would happen withthe upload and it worked fine. I don't remember the program saying anything about contacting my bank.
This is weird. I didn't see the option to import a PDF, and you didn't see the option to fetch it from the issuer. I have no idea what's going on. :confused
Full disclosure, I used H&R block software, but it was through freefile (IRS). Don't know if that makes a difference here, but thought it was worth mentioning.
It's hard to accept the truth when the lies were exactly what you wanted to hear. Investing is simple, but not easy. Buy, hold & rebalance low cost index funds & manage taxable events. Asking Portfolio Questions | Wiki
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