Downloading 1099s into H & R Block

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bartbill
Posts: 44
Joined: Fri Apr 02, 2010 11:52 pm

Downloading 1099s into H & R Block

Post by bartbill » Mon Mar 26, 2018 8:08 pm

H & R Block needs access to my Vanguard account to download 1099 data into their software on my computer. To do so they need my user name and password. This is my first time doing this - seems risky to me. How to others handle this? I'm using the Deluxe package.

Perkunas
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Joined: Tue May 10, 2016 7:24 pm

Re: Downloading 1099s into H & R Block

Post by Perkunas » Mon Mar 26, 2018 8:10 pm

Can you type the info manually?

If not, HR block already has your SSN and all other personal info from your tax return. If you feel safe giving them that info, then you're not likely in much additional danger if you give them your Vanguard login.

jebmke
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Joined: Thu Apr 05, 2007 2:44 pm

Re: Downloading 1099s into H & R Block

Post by jebmke » Mon Mar 26, 2018 8:16 pm

I enter everything manually. It doesn't take that long - you have to check everything anyway so it is just as easy to type stuff in.
When you discover that you are riding a dead horse, the best strategy is to dismount.

student
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Re: Downloading 1099s into H & R Block

Post by student » Mon Mar 26, 2018 8:27 pm

I do not let them download it. I entered them manually.

Katietsu
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Re: Downloading 1099s into H & R Block

Post by Katietsu » Mon Mar 26, 2018 8:38 pm

I have done the automatic download and think it is great. I have not done the HR Block / Vanguard combination.

These things work differently depending on the company. But in no case that I have utilized are you giving the software company your username and password.

You can wait for someone to come along here who has used the same combo. Or just try it and see what they ask for.

brokendirtdart
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Re: Downloading 1099s into H & R Block

Post by brokendirtdart » Mon Mar 26, 2018 8:58 pm

I have downloaded both Vanguard and Fidelity to Turbo Tax and H&R Block. H&R Block for 16 and 17 and TT the years prior. I have never had an issue.

I suppose I could manually type the data in, but I am periodically selling/consolidating/simplifying my portfolios so the download of the multiple events was easier.

RetiredAL
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Location: SF Bay Area

Re: Downloading 1099s into H & R Block

Post by RetiredAL » Mon Mar 26, 2018 11:16 pm

bartbill wrote:
Mon Mar 26, 2018 8:08 pm
H & R Block needs access to my Vanguard account to download 1099 data into their software on my computer. To do so they need my user name and password. This is my first time doing this - seems risky to me. How to others handle this? I'm using the Deluxe package.
The solution is simple: Just change your password(s) to the financial site(s) you download from into your tax program after you've downloaded. If you remain super paranoid with just a password change, change the logon ID(s) too.

Remember, you already have given the your tax processor/program and the IRS, your name, rank, serial number, where all your accounts are, and likely your checking account number for handling your direct deposit refund.

bartbill
Posts: 44
Joined: Fri Apr 02, 2010 11:52 pm

Re: Downloading 1099s into H & R Block

Post by bartbill » Tue Mar 27, 2018 7:34 am

Thanks for the responses. Think I will allow the download then change my password.

student
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Joined: Fri Apr 03, 2015 6:58 am

Re: Downloading 1099s into H & R Block

Post by student » Tue Mar 27, 2018 7:55 am

bartbill wrote:
Tue Mar 27, 2018 7:34 am
Thanks for the responses. Think I will allow the download then change my password.
Maybe it is better if you change the password, allow it to download, and then change it back. I am assuming that you have a password that you would like to continue to use.

Katietsu
Posts: 1613
Joined: Sun Sep 22, 2013 1:48 am

Re: Downloading 1099s into H & R Block

Post by Katietsu » Tue Mar 27, 2018 9:55 am

I have needed to provide a code from my 1099, I have needed to provided the exact dollar and cent amount of some figure on the 1099, I have been redirected to the financial institution and logged in with them. I have never provided the username or password to the software company. In the last case, you could think of it as being similar to logging in to PayPal to pay for your pizza. You are not giving Papa John’s your login.

You should do what ever makes you comfortable. And there have been crazier hacks. But once you try the process, I think you will see that it goes a little different than you are anticipating. I think you will be less concerned.

Monster99
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Re: Downloading 1099s into H & R Block

Post by Monster99 » Tue Mar 27, 2018 12:56 pm

The only issue I have come across with downloading is the fact that you can't designate the % Government obligations for each fund - helpful for my state (IN) return as they don't tax government obligations.

bartbill
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Joined: Fri Apr 02, 2010 11:52 pm

Re: Downloading 1099s into H & R Block

Post by bartbill » Tue Mar 27, 2018 1:02 pm

Good to know.

But process-wise, how did you get the info from Vanguard to your tax software.

pshonore
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Re: Downloading 1099s into H & R Block

Post by pshonore » Tue Mar 27, 2018 1:04 pm

The most important thing whether you download or not is to fully answer the interview questions about the 1099R or the various boxes on the Form used by the tax software. Was it an RMD, any part a QCD, was any of it converted to a Roth, recharacterized ? etc.

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