TurboTax®

The instructions provide the steps to assist you with importing your Baird tax-related data into TurboTax^®. Baird does not support the TurboTax^® software. You may direct your questions about preparing your return using TurboTax^® software to Intuit^®, the company that supports TurboTax^®.

Before beginning to import your data, install any TurboTax^® updates from Intuit^®. You will be prompted to install any available updates upon opening or installing TurboTax^®. Failing to install the most recent updates may cause your import to be unsuccessful.

1. If you have not already started your TurboTax^® return, from the File menu in TurboTax^®, select New Tax Return.
   
   
2. From the File menu select Import, and then select From Financial Institution.
   
   
3. In the box labeled I’m looking for: type Robert W. Baird & Co.
   
   Select Robert W. Baird & Co. from the scrolling list box and click Continue.
   
   From the Robert W. Baird & Co. screen:
   • Enter your Baird eight-digit account number (no dashes)
   • Enter your Document ID as displayed on the Baird Tax Statement.
     
     
     
   Your tax documents will appear on the These Documents Are Now Ready for Import: screen. To view the details of each document, click View Details to the right of the document. A dialog box will appear detailing the items TurboTax^® will import; when you are finished reviewing the details, select Close to return to the These Documents Are Now Ready for Import: screen.
   
   
4. Click Import Now to import the selected items into your TurboTax^® return (a dialog box will appear to let you monitor the status of the download).
   
   
5. From the Import Summary screen, select Done.
   
   
6. Click Continue to begin the TurboTax^® interview process.
   
   If you have multiple accounts with Baird, please repeat the above steps for each account to import the relevant tax information for each account into your TurboTax^® return.

Helpful Hint:
To review the data imported into your TurboTax^® return at any time, go to the Tools menu in the TurboTax^® program and select My Tax Data (a dialog box will appear to show the details. Items with Import listed in the Source column are items that were imported from Baird or another financial institution); select Cancel when you are finished reviewing the information.

Baird tax documents are the official documents sent to the IRS and the TurboTax® service is not a substitute for your official Baird tax documents.  Although Baird is providing the TurboTax® import process as an additional service, Baird does not guarantee that the information provided is sufficient for tax reporting purposes, and Baird is not liable for your reliance upon or use of the import feature or the data provided through such feature.

The answers to many frequently asked questions about the TurboTax^® import process can be found below. Technical questions should be directed to Intuit^®, the company that supports TurboTax^®.

• Can I import my Baird Consolidated 1099 and/or Form 1099-R into TurboTax® products for Mac?

  Yes. TurboTax® is available for both Mac and PC platforms and both platforms are supported by Baird.

• Can I use the import for my state tax return?

  The tax information import is based on reporting requirements for your federal tax return. It is not meant to support state tax returns. If you are using this information to complete your state tax return through TurboTax^® or otherwise, obtain your state income tax reporting instructions or regulations to determine any adjustments or modification to the information provided. For example, tax-exempt municipal income and income derived from certain U.S. Treasury obligations may require adjustments for the completion of your state income tax return.
  

• Do I need to be on Baird’s website to import the information?

  No. The TurboTax^® program provides an import feature that will import the relevant tax information. Please see our TurboTax^® download instructions tab on this page for more information.
  
  

• Do TurboTax® products have my account information?

  No. The TurboTax^® products do not have your Baird account information. Your TurboTax^® import request retrieves the relevant tax information from an industry standard Open Financial Exchange (OFX) server over a secured internet connection. All your account information for the TurboTax^® import is located and stored at Baird or an authorized third party. All such information is maintained in accordance with Baird’s privacy policy.
  

• Does Baird support a CSV file download that can be used by my tax preparer (Who does not use TurboTax®)?

  Yes. In addition to the TurboTax^® import process, Baird offers a separate process which can be used by you (or your tax preparer) to download the Baird Consolidated 1099 (e.g., Forms 1099-DIV, -INT,  -OID, -B, -MISC) directly into a CSV (comma-separated values) file. The downloaded CSV file can be electronically transferred into most professional tax accounting software, thus eliminating the majority of the manual data entry and saving considerable time for you or your tax preparer. Click here for the information on the CSV file download.

• How much does the TurboTax® import service cost?

  Importing Baird tax-related data into your TurboTax^® return is free to all Baird clients. 
  

• If I am a beneficiary of a decedent IRA, will I be able to import Form 1099-R from Baird?

  No, Baird does not support the import of Form 1099-R (Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.) for beneficiaries. These specific items will need to be entered manually into TurboTax^®.
  

• If I import my data into TurboTax®, will I still receive my official Baird tax documents?

  If you have not opted for eDelivery in your Baird Online account preferences, you will continue to receive your tax documents in the mail. Baird tax documents are the official documents sent to the IRS and the TurboTax^® service is not a substitute for your official Baird tax documents. This import feature provides you with the opportunity to import most of your Baird tax-related data into your TurboTax^® return, reducing manual data entry, but should not be considered an official record. Please review the imported data against the official Baird tax documents to ensure completeness.
  

• TurboTax is asking what is reported in Box 16 (State Distribution) on the 1099-R, but Baird doesn’t report an amount in that box.

  Please consult with your tax professional for guidance on how to complete your 1099-R when there is no information provided for Box 16. After consulting with your tax professional, if further assistance is needed, please reach out to TurboTax Customer Service.

• What is TurboTax® products?

  TurboTax^® software is a product from Intuit, a third-party vendor. TurboTax^® products help you prepare and file your federal and state tax returns. With TurboTax^® products, you can import your Baird tax-related data into TurboTax^®.
  
  Although Baird is providing the TurboTax^® import process as an additional service, Baird does not guarantee that the information provided is sufficient for tax reporting purposes, and Baird is not liable for your reliance upon or use of the import feature or the data provided through such feature. If you have specific questions regarding the preparation of your tax return, contact your tax advisor or the IRS.

• What happens if I receive a current tax year "corrected" Baird tax document?

  If you have not yet filed your tax return, you can manually adjust your TurboTax^® return to the current tax year “corrected” tax document information. When referring to your Consolidated 1099 for “corrected” information, a “C” will appear next to any item that has been changed. You may also re-import the TurboTax^® data into your return. To do so please see the TurboTax^® Instructions tab on this page for more information on removing previously imported data. Prior year corrections are not downloadable into TurboTax^®.

  If you have filed your tax return, please see the TurboTax^® instructions for amending a return.

• What happens if the TurboTax® information is different than the information on tax documents I received?

  The Consolidated 1099 and/or Form 1099-R are the official source of information. The information you import should be verified against your Baird tax documents.
  
  If there are major discrepancies between the Baird tax document(s) and the TurboTax^® import data, contact Baird Online Support  or 888-212-8843. Since TurboTax^® is a third-party application; there are limitations to what support Baird can offer in the import process.
  

• What if I do not see Robert W Baird & Co. as a Financial Partner to import tax information from within the TurboTax® program?

  If you do not see Robert W. Baird & Co. (1099 Tax Statement) or Robert W. Baird & Co. (Form 1099-R) in the list of available Financial Partners, you will need to process the TurboTax^® program update. Within TurboTax^®, go to the menu option: Online > Check For Updates and follow the on-screen prompts. When the update completes, attempt the import again. Please view the TurboTax^® import instructions for more information on how to initiate the import process or visit turbotax.intuit.com/support/ for more details.
  

• What if I don’t have TurboTax®?

  You can purchase TurboTax^® software and online products at the TurboTax^® website. You can also find TurboTax^® software products in computer and general retail stores.

  Please visit the TurboTax^® website for more information.

• What if I misplaced my Baird Online password?

  If you have misplaced or forgotten your Baird Online password, contact Baird Online Support toll free at 888-212-8843, or request a temporary password.
  
  

• What information do I need to log in to use the TurboTax® import?

  To import your Consolidated 1099 and/or Form 1099-R into TurboTax^® you will need your Account Number and Document ID. Please see the question “Where do I find my Account Number and Document ID?” below for help locating your Account Number and Document ID Number.
  

• What information from my Consolidated 1099 will not import into a TurboTax® return?

  The following items from the Consolidated 1099 will not import into Turbo Tax^® and will require the information to be manually entered into the Turbo Tax^® program:

  • The “Reconciliations, Fees, Expenses and Expenditures” (e.g., margin interest and partnership distributions) section on page 2 of the Consolidated 1099 will not import into Turbo Tax^® returns.
  • Amounts that are designated as “noncovered" or "lots not reported” in the "Original Issue Discount and Adjustments" section on page 2 will not import into Turbo Tax^®.
  • The section designated by "The following amounts are not reported to the IRS" located beneath the 1099-INT on page 2 of the Consolidated 1099 will not import into Turbo Tax^®.
  • Cost basis on certain Form 1099-B transactions (e.g., Undetermined Term) will not import into TurboTax^® returns (Please see "Will cost basis information from Form 1099-B import into TurboTax®?" and "Will cost basis for noncovered securities on Form 1099-B import into TurboTax®?" for additional information).
  • “Regulated Futures Contracts” (e.g., Section 1256 contracts) from Form 1099-B boxes 8, 9, 10, 11 is not supported by the Turbo Tax^® import.

  The items listed above are not intended to be all inclusive. The Consolidated 1099 is the official 1099 and you should verify that your federal and/or state tax return(s) include all of the items shown on the Consolidated 1099.

• What is OFX?

  Open Financial Exchange (OFX) is a unified specification for the exchange of electronic financial data over the internet. The OFX specification streamlines the process financial services companies must go through to connect to transactional websites, personal computers and personal financial management software. Further information about OFX can be found at www.ofx.net.

• What type of cyber security do you employ?

  Any time you use the TurboTax^® import process and provide personal information (such as an account number or password), it is encrypted using 128-bit Secure Socket Layer (SSL) technology. SSL protects information as it crosses the internet. To support this technology, you need an SSL-capable browser. The browser will activate SSL automatically whenever you use the TurboTax^® download. Please visit the TurboTax^® website for browser and operating system requirements for this technology.

• When will TurboTax® import data be available for download?

  TurboTax^® import data will be available beginning January 15, 2025. Once you receive your Baird tax documents, you will be able to import your data by using the Document ID.

  Please see https://bairdwealth.com/taxes for additional information regarding mailing dates of tax documents.

• Where do I find my Account Number and Document ID?

  Your Account Number and Document ID can be found in the upper right-hand corner of your Baird tax document. Your Baird tax document will be available electronically on Baird Online > Account Information > eDocuments > Tax Forms and will be mailed to you if you have not opted for eDelivery.

  Consolidated 1099

  

  Form 1099-R

  

• Which 1099 tax forms can I import from Baird?

  Baird provides information from Forms 1099-R (Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.), 1099-DIV (Dividends and Distributions), 1099-INT (Interest Income), 1099-OID (Original Issue Discount), 1099-B (Proceeds from Broker and Barter Exchange Transactions), 1099-MISC (Miscellaneous Income), 1099-OID REMIC (Real Estate Mortgage Investment Conduit), and 1099-INT WHFIT (Widely Held Fixed Investment Trust) are available for import into your TurboTax^® return. Please see "What information from my Baird tax documents will not import into the TurboTax^® return?" for information that will not import into the TurboTax^® return from my Baird tax document.

• Who can import their Baird tax-related data into their TurboTax® returns?

  Any client receiving a Form 1099-R or a Consolidated 1099 (-DIV, -INT, -OID, -B, or -MISC) can import their data into TurboTax^®.  

• Who should I contact if I have trouble importing the data?

  For technical questions about TurboTax^® product installation, usage (including preparing your return) and functionality, please visit turbotax.intuit.com/support/.
  
  If you are having difficulty with the import process, please contact Baird Online Support at 888-212-8843. Since the TurboTax^® program is a third-party application there are limitations to what support Baird can offer in the import process.
  

• Will cost basis for noncovered securities on Form 1099-B import into TurboTax®?

  If known to Baird, the cost basis and acquisition date of noncovered securities will be supplied on the Baird Consolidated 1099 and in the TurboTax^® import. However, this information may not reflect all necessary adjustments. Manual adjustment(s) may be needed if you have used other methods for tracking and/or reporting the cost basis for particular securities. (Note: For cost basis adjustments for limited partnerships, please consult the IRS Partner Instructions for Form K1 (1065)). You should verify the cost basis information supplied on your Consolidated 1099 and in the TurboTax^® import against your own tax records. The TurboTax^® software will allow you to adjust any of the cost basis information imported.

• Will cost basis information from Form 1099-B import into TurboTax®?

  Yes, if known to Baird, cost basis will be displayed on Form 1099-B and it will import into TurboTax^® for both covered and noncovered securities. Any cost basis provided for noncovered securities may not reflect all necessary adjustments. Manual adjustment(s) may be needed if you have used other methods for tracking and/or reporting the cost basis for certain securities. (Note: For cost basis adjustments for limited partnerships, please refer the IRS Partner Instructions for Form K1 (1065)). You should verify the cost basis information supplied on your Consolidated-1099 and in the TurboTax^® import against your own tax records.
  
  If the cost basis is not known to Baird, the Form 1099-B transaction will be displayed in the Undetermined Term (e.g., missing cost basis and/or missing acquisition date) section. Undetermined term transactions will partially import but will require manual adjustment to properly reflect on your tax return(s). (Note: For cost basis adjustments for limited partnerships, please refer to the IRS Partner Instructions for Form K1 (1065)). TurboTax^® software will allow you to adjust any of the cost basis information.
  

• Will Original Issue Discount tax information listed on  Form 1099-OID  import into TurboTax®?

  Yes. However, Original Issue Discount (OID) reported on Form 1099-OID and imported into your TurboTax^® return is calculated assuming the bonds were purchased on the date of original issue and at the original issue price. If you purchased the bonds at a market premium or market discount, or if the obligation is either a stripped bond or coupon, you must compute your proper amount of OID.  See the IRS Form 1099-OID Instructions for additional information. 
  
  It is important to note that amounts that are designated as “noncovered” or “lots not reported” in the “Original Issue Discount and Adjustments” section on page 2 as well as on the IRS Form 1099-OID will not import into TurboTax^®.

• Will TurboTax® products interact with Baird’s Quicken® download service?

  No. The Quicken^® download service Baird offers is primarily for tracking transactions and holdings. Baird does not recommend or support the effort of using the Quicken^® downloaded data for income tax purposes. Your Baird tax document includes the year-end tax adjustments and is the official document for use in preparing your return.
  
  

TurboTax^® and TurboTax^® Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Intuit Inc. is not affiliated with Robert W. Baird & Co. Incorporated and is solely responsible for the information provided by Intuit Inc. for users of TurboTax^® software. Robert W. Baird & Co. Incorporated cannot guarantee that Intuit Inc. supplied information and content are accurate, complete, or timely and does not make any warranties, conditions, guarantees, or representations regarding the results obtained from such use.

It is important to understand that the tax information imported into TurboTax^® products may not be all the information required for you to properly complete the investment income portion of your federal and/or state tax return. It is essential that you complete the TurboTax^® Interview and/or Review processes in their entireties to ensure that all imported information is correctly reported to the IRS and/or the state(s) to which you report.

Be sure to verify the information that you import with your own records to ensure accurate and complete reporting of all required tax information on your federal and/or state tax return(s). Although Baird is providing the tax information import as an additional service, Baird does not guarantee that the information provided is sufficient for tax reporting purposes, and Baird is not liable for your reliance upon or use of the import feature or the data provided through such feature. If you have specific questions regarding the preparation of your tax return, contact your tax advisor, the IRS, or the state(s) to which you report.

The Consolidated 1099 and/or Form 1099-R are the official records of 1099 information maintained at Robert W. Baird & Co. Incorporated. Robert W. Baird & Co. Incorporated disclaims any liability arising from the use of TurboTax^® software or the content furnished by Intuit Inc., including but not limited to, any resulting information obtained from such use, or interpretations of information made as a result of such use.