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When creating a spreadsheet to import information into your tax return, be sure to include a column for the following as they are required to complete your Forms 1099-B:

• Description
• Date sold
• Sales proceeds
• Date acquired
• Cost or other basis
• Reporting category

TaxACT uses these headings in the .CSV import section. These headings could also be used when creating headings in a spreadsheet, and would ensure a smooth .CSV import. For an example, see the following sample .CSV:

Three fields may be required depending on the specific circumstances:

• Wash Sale - only required if any of the transactions are wash sales as those need to be designated as such in the program. To indicate a wash sale, enter a W in the Wash Sale column on that specific transaction row.
• Withholding - only required if there is withholding for any of the transactions.
• Adjustment Amount - Only required if you have wash sale transactions that include an adjustment amount.

Two fields are optional:

• Qty - if populated this becomes part of the description field
• Transaction Type - only used to prompt the taxpayer to review possible entries not wanted in the file. For example, if the text bought is listed as the Transaction Type then the program will prompt the taxpayer to ensure that transaction should be part of the import as the import is for sale transactions.

Spreadsheet to .CSV Conversion:

To convert a Microsoft Excel 2003/2007 file to .CSV format:

1. Go to File
2. Click on Save As
3. In the Save as type select CSV (comma delimited)

To convert an Open Office Spreadsheet file to .CSV format:

1. Go to File
2. Click on Save As
3. In the Save as type select Text CSV (.CSV)

Related Links:

• How to import 1099-B data