Education & FAQs

Importing Tax Data
Who is able to import account information into a tax software package? Show
All shareholders who receive a tax form 1099 from Harbor Funds can use TurboTax or H&R Block Tax Software to import the 1099 tax forms reported under their Social Security number.
Can I use tax preparation software if I receive an amended tax statement? Show
Most amended tax statement data will be available to import into TurboTax or H&R Block Tax Software sometime between late February and mid-March. Any additional corrected and/or late original tax form data will be updated and available to download generally within two weeks of the correction. Be sure to review the corrected information you have downloaded against the printed tax statements received in the mail as well as your own records. You may need to manually adjust or correct any inconsistencies found in the online version.

 

When will tax forms be available to import? Show
When using TurboTax or H&R Block Tax Software, for more complete information, you should wait until you receive your Harbor Funds tax statements (either in the mail or online) before importing your tax information. Generally, tax forms will be available to import into TurboTax or H&R Block Tax Software once they are mailed. For an estimated mail date for tax forms, click here.

The last date that tax data for tax year 2013 will be available for import is Oct. 15, 2014.

Which forms will be available to import? Show
  • Form 1099-B (Proceeds from Broker and Barter Exchange)
  • Form 1099-DIV (Dividend Income)
  • Form 1099-R (Retirement Plan Distributions)
  • Cost basis

There are some situations that might prevent importing tax information for certain forms. Make sure you carefully review and compare all items on your TurboTax or H&R Block Tax Software return against your own records as well as the information you received on the tax forms that were mailed to you after you import your tax form information.

How do I import my Harbor Funds tax data into a TurboTax return? Show
An established Harbor Funds User ID and Password are required to import tax form data. If you haven't already, you will need to register your account to establish a User ID and Password.
The following general steps can be used to import your tax information using either Turbo Tax or H&R Block Tax Software.

 

  1. Open the software on your computer.
  2. Navigate to the "Income" section
  3. When given the option to save time by importing your investments, choose the "Import My Information" button.
  4. Choose your financial institution, Harbor Funds, from a list of possible options and click "Continue."
  5. Enter your Harborfunds.com User ID and Password.
  6. Once you have retrieved your Harbor Funds information, be sure to check it against the tax statements you received in the mail. It is also recommended that you review the information against your own records. Since the tax statement you receive in the mail is your official document of record, you will need to manually correct any inconsistencies found in the imported version. In addition, if you receive amended tax statements, you will need to correct the information on your tax return, either through an additional import or by manually changing the data on your file.

 

Why doesn't the acquisition date import to Schedule D for open-ended mutual funds? Show
Date of acquisition generally will not be supplied within the import for open-ended mutual funds. Please refer to your own tax records to report the acquisition date and supplement the sale information that is provided.

If you sold a mutual fund that was acquired through several purchases and you are using the average cost basis method you may enter "various" in the space provided for date acquired. Consult with your tax adviser and the IRS instructions for Schedule D, Capital Gains and Losses, for additional information on reporting the date acquired.

Can I import cost basis information from a sale of shares into a tax preparation software package? Show
The cost basis reported on the 1099-B tax form associated with sales of shares is available to import into TurboTax or H&R Block Tax Software.

Please note:

  • The information held in our records may not reflect all basis adjustments that would be necessary for calculations of the basis of shares that are sold.
  • Adjustments related to wash sales may not reflect accurate cost basis. Please also be aware that if you have received your shares through a gift, inheritance or divorce, the cost basis has not been adjusted and will need to be manually adjusted.
  • It is important that you verify data using your records when calculating gains or losses for tax reporting purposes. To adjust the information, you will need to edit the imported information.
  • Please see the instructions associated with your tax statements for more information. If you have questions specific to the cost basis or the associated gain or loss shown on your statement, it is important that you speak with a tax adviser.

 

How can I get additional TurboTax assistance? Show
For technical support or answers to questions not addressed here, visit the support section of the TurboTax website.
How can I get additional H&R Block Tax Software assistance? Show
For technical support or answers to questions not addressed here, visit the support section of the H&R Block Tax Software website.