Tax Resource Center
 

Turbo Tax for Mutual Funds

Thrivent Mutual Funds have worked with Intuit Inc. to provide an easy download into the TurboTax® tax preparation desktop software and the TurboTax® for the WebSM service for the information reported on 1099 tax forms. Please go directly to the TurboTax® website to order software or access the Web version.

The TurboTax® data entry feature retrieves select 1099 investment data from your Thrivent Mutual Fund accounts and enters it directly into the correct forms in your tax return, which saves you time and needless manual data gathering and entry.

TurboTax® data entry is available for these Thrivent Mutual Fund forms:

  • 1099-B1
  • 1099-DIV
  • 1099-R

Turbo Tax FAQs

You may want to know more before you decide to use the data entry feature provided with your TurboTax® tax preparation product. Below are the answers to frequently asked questions about importing your data directly into your tax return. If your questions aren't answered here, please call Thrivent Financial Customer Service at 800-THRIVENT (800-847-4836).

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Q. What happens when I use data entry?
A:Thrivent Mutual Funds have entered into an agreement with Intuit Inc. to provide shareholders the opportunity to electronically import 1099 tax reporting information directly and automatically from the financial institution to their individual tax return via TurboTax® desktop software or TurboTax® for the Web.
Q.What do I need on hand before using this feature?
A: You will need your Thrivent.com user ID and password.
Q. What if I do not have a Thrivent.com user ID and password?
A: Register now to create a user ID and password.

You'll need:
  • A Thrivent Member ID.
  • Your birth date.
  • A valid email address.
Once the initial registration is complete, go back to the Thrivent.com homepage and log in using your newly created Thrivent user ID and password. At the My Accounts page, click on a Thrivent Mutual Fund account link to view account details; this completes the registration process.

Note: Once the registration process is complete you will need to wait at least 15 minutes before logging into Turbo Tax®.
Q. I'm a registered user of Thrivent.com and getting an error message that I am not authenticated. Why?
A: You will want to validate your Thrivent.com access. Log in to MyThrivent and click on on Manage My Profile > Access Information. Validate that the check box is marked for MyAccounts – Mutual Funds.
Q. If I have a large amount of data to import, can TurboTax® handle the import?
A: TurboTax® for the Web supports the importation of up to 500 Schedule D transactions. If you have more than 500 Schedule D transactions, you may want to use the TurboTax® desktop version. The TurboTax® desktop version supports up to 3,000 transactions. However, your system configuration (processor type, speed and memory) will determine the number of transactions that can be imported without a noticeable degradation of system performance.
Q. Can I import data for all accounts?
A: The TurboTax® data entry feature will import all of your mutual fund accounts with matching Social Security numbers. At this time, this does not include accounts registered to a business, trust or to children under age 16.
Q. Can I import data for just select accounts?
A: When importing your mutual fund data through TurboTax®, data from all of your accounts will be included if they match the Social Security number (SSN) entered. After the data is imported, you can review your information and delete specific accounts that you do not wish to report.
Q. Will the TurboTax® data entry import my gain/loss information on redemptions made from my mutual fund accounts?
A:If cost basis information is available to you on your 1099-B, it will transfer with this feature into your TurboTax® 1040 tax return.
Q. What if I want to delete some of the imported information in my returns?
A: When importing your mutual fund data through TurboTax®, data from all of your accounts will be included if they match the SSN entered. After the data is imported, you can review your information and delete the accounts you do not want included in your return.
Q. Is this data entry service secure?
A: To maximize the security of shareholders' accounts, there are several screening measures in place:
  • A login process that requires entering a user ID and password.
  • The service uses the latest encryption technology via Netscape Secure Socket Layer (SSL) technology. Encryption is the transformation of data into a form unreadable by anyone who does not have the appropriate decryption key. The following browsers support SSL: Netscape Navigator 2.0 or greater; Microsoft Internet Explorer 2.0 or greater; Oracle Powerbrowser; America Online (AOL) Web Browser 3.0 or greater.
Q. Can I import data from other financial institutions?
A: Yes. Once you have completed importing data from the Thrivent Mutual Funds, you may return to the list of financial institutions and select others with whom you invest.

 

Thrivent Financial for Lutherans, its affiliates and financial representatives do not provide tax advice. Due to the complexity of the tax laws, we recommend consulting a tax advisor or the IRS for questions regarding your specific tax situation.

1 If average cost is available to you on your 1099-B, it will transfer with this feature into your TurboTax® 1040 tax return.

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