- Please note that while Betterment has provided the tax information in the format specified by the tax preparation software providers, we do not manage the software itself. If you are experiencing issues with your tax import, we encourage you to contact the software providers directly. To connect with a TurboTax Expert who is specially trained, please contact TurboTax directly.
- If you have two-factor authentication enabled at Betterment, please use an App password generated within your Betterment account instead of your standard Betterment password. You can generate an App Password at Betterment by visiting the Security tab and clicking "Generate a new App Password."
Betterment integrates with TurboTax tax preparation software to allow automatic import of your tax information.
In some cases, TurboTax software may round the data imported from Betterment. This is not something Betterment can control, so please take care to verify the data import with the information provided on your Betterment tax forms. For more information on rounding, please see the IRS instructions for Form 8949.
Please note that software providers may have different versions of their tax preparation software and not all versions will support automatic import of brokerage data. Betterment cannot control which versions have automatic import enabled, so please ensure you review your options prior to software purchase if you would like to use the automatic import feature.
Online Version: From the Import Summary screen, select “Add Other Documents”. On the following screen, type “Betterment” into the “Import from my bank or brokerage” field. Select “Betterment” from the list below and click “Continue” to import.
Desktop Version: In addition to the online import method detailed above, you can also select “Import” from the File menu and click “From Financial Institution” - please see the screenshot below for reference.
On the following screen, type “Betterment” into the “Enter financial institution name here” field. Select “Betterment” from the list below and click “Continue” to import.
For Exempt Interest Dividends:
Betterment invests in a variety of state municipal bonds. If you are importing a 1099-DIV and Box 10 (Exempt Interest Dividends) is not $0, TurboTax will show you a screen which asks: “Choose the state where your tax-exempt dividends came from:”
From the dropdown, select “More Than One State":
You may also consult the tax form detail and the fund company website to determine the state(s) associated with your tax-exempt dividends. The fund company resources may be found here in our FAQ.