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Thanks for the idea. We are changing the status to "Open for voting" since it is no longer considered "New". If you have any questions on the life cycle of an idea, check out our Idea Getting Started Guide for more information.
Yes, a Consolidated 1099 has interests, dividends, stocks, and sometimes other income. There should a screen to cover all these. I spent a lot time jumping back and forth, re-typing the broker name, for example, Fidelity 1234.
ProSystem allowed for this. One of the most powerful dynamics here is how this can come through on the organizer. Right now, a brokerage statement with interest and dividends shows up separately on the organizer and, of course, needs to be input separately.
This would allow for more efficient identification of whether we need to request a consolidated 1099 or whether this interest/dividend income is from a separate account.
Captcookc3's comment is spot on. The Consolidated 1099s are becoming more common as taxpayers want to simplify their financial picture by engaging financial advisors (and their brokerage firms). ProSystem Tax does a great job with the Consolidated 1099 worksheet input screen-handles the 1099-INT, 1099-DIV, 1099-B, State tax exempt interest, Foreign Tax Credit calculations, etc. all in one place, exactly how the information is received on the year end tax statement.
