Schwab, Fidelity, Robinhood: How to Convert Any 1099-B

Every broker formats their 1099-B slightly differently. Here's what to expect from the most common brokers and how to convert each one.

Charles Schwab

Schwab's 1099-B is one of the more detailed formats. It includes:

• Clear separation of short-term and long-term transactions
• Box A (covered short-term), Box D (covered long-term), Box B/E (noncovered)
• Wash sale adjustments in a dedicated column
• A summary page at the end with totals

Common issue: Schwab's auto-import to TurboTax frequently fails during tax season due to high traffic. The TXF workaround is reliable.

Fidelity

Fidelity's 1099-B tends to be cleaner but can be very long for active traders:

• Transactions grouped by account, then by type
• "VARIOUS" used for date acquired when shares were bought at different times
• Wash sales clearly labeled
• Supplemental detail pages for complex transactions

Common issue: Fidelity sometimes splits a single security across multiple pages, making manual extraction error-prone.

Robinhood

Robinhood's 1099-B is notorious for being difficult:

• Extremely long documents (active traders can have 50+ pages)
• Cryptocurrency transactions mixed with stock transactions
• Fractional shares with many decimal places
• Options trades with complex descriptions

Common issue: Robinhood users often have hundreds of small transactions from fractional share trading. Manual entry is impractical.

E*TRADE / Morgan Stanley

After the Morgan Stanley acquisition, E*TRADE's 1099-B format changed:

• ESPP (Employee Stock Purchase Plan) shares have special cost basis rules
• RSU (Restricted Stock Unit) transactions may show $0 cost basis (requires W-2 cross-reference)
• Multiple accounts consolidated into one document

Interactive Brokers

IBKR's 1099-B is highly detailed but dense:

• Forex and futures transactions alongside equities
• Section 1256 contracts reported separately
• Very precise decimal amounts
• Can run 100+ pages for active traders

How 1099-B Converter Handles All Formats

Our AI extraction doesn't rely on fixed templates. It understands the structure of a 1099-B regardless of formatting. Upload any broker's PDF and get:

1. Every transaction extracted individually
2. Correct categorization (short-term vs. long-term)
3. Wash sale amounts preserved
4. Clean CSV, TXF, and Excel output

The same upload process works for all brokers — no need to specify which one. For broker-specific flows with format-tuned tips, see the Fidelity 1099-B converter landing.

FAQ

Does the converter work with every broker's 1099-B?

Yes. The AI extraction reads the structure of a 1099-B rather than matching a fixed template per broker, so it works with Schwab, Fidelity, Robinhood, E*TRADE/Morgan Stanley, Interactive Brokers, and any other brokerage that issues a standard 1099-B PDF.

Do I need to tell it which broker my 1099-B is from?

No. The same upload process works for every broker — you don't select a brokerage or a format. Upload the PDF and the extraction figures out the layout on its own.

My broker isn't listed here — can I still convert?

Almost certainly, yes. The brokers in this article are just the most common examples; the extraction is format-agnostic, so smaller and regional brokers convert the same way.

How does it handle consolidated 1099s from Fidelity or E-TRADE?

It reads the 1099-B section of the consolidated document and extracts the brokerage transactions, ignoring the 1099-DIV/INT portions. If your import broke on a consolidated form, see the Fidelity 1099-B TurboTax import fix.

Does it preserve wash sales and cost basis?

Yes — wash sale loss disallowed amounts and reported cost basis are carried through to the CSV, TXF, and Excel output. For how wash sales flow through, see understanding wash sales on your 1099-B.

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Have a 1099-B from any broker? Try it on your 1099-B — one upload process, every format, clean CSV/TXF/Excel out the other side.