Tried a TheTaxbook search on Morgan Stanley but didn't see anything on this question... Got a couple of new clients this year with 1099-B statements from Morgan Stanley. Each of these statements has a couple hundred transactions for 2021. I contacted the client's rep to determine if a csv file of this activity could be obtained and was told that this is not available. This seems unlikely - I would think that Morgan Stanley must have a system for providing 1099-B history to client/tax preparers in a digital format for uploading to tax software. Anyone here with experience on this topic as it relates to Morgan Stanley? If so, how did you obtain the transaction file?
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If MS is providing basis to IRS and no adjustments, no need to show detail. Just enter total directly on D. -
I haven't prepared returns yet this year for my clients using Morgan Stanley, but I've always been able to get the csv file to import. I have my clients request it. When a client has me speak directly to his broker, I tell the broker that he's helping our mutual client save me time which then saves our mutual client money and makes both his broker and myself heroes to our mutual client. In other words, what's in it for the broker!Comment
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To add on to what kathyc2 said, if the total wash sale adjustment is on the order of $10-15 or less, I usually just ignore it and report the total with no adjustments.
You can also just attach the PDF file with details to the return, using the code "M" adjustment on Form 8949.
But if you really still want to upload a csv file into your software, it is possible to highlight the tabular data area of a PDF (the detail transactions) and convert that to a spreadsheet and/or CSV format. Often you can also just highlight one full column and copy-paste it directly into a spreadsheet, one column at a time. (holding down the "Alt" key lets you highlight just a rectangular area instead of entire rows). YMMV if you use tools other than Adobe Acrobat, but I suspect many such tools exist."You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe HowardComment
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If you have a lot of investors, you might want to invest in a tool such as CCH's Scan & Flow that converts gain/loss statements to csv files and even entire consolidated 1099s to importable files. It has the major brokerages' formats included, plus you can save any new format you create to use with other clients.Comment
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