You have several options when it comes to importing your clients' stock transactions into TaxAct® Professional Editions. Here's a quick run-down of the partnerships we have for direct import, electronic import, CSV, and Form 8949 attachment import options.
TD Ameritrade
Using a client's TD Ameritrade account number and their document ID number from their brokerage provided statement, TaxAct will automatically import a client's stock transactions for you. Each stock transaction will create a Form 1099-B in your client's return and the information will transfer accordingly to Schedule D and Form 8949.
For more information about importing TD Ameritrade transactions into TaxAct, visit the FAQ on TD Ameritrade – Electronic Import.
Capital One Investing
Entering a client's Capital One Investing account number and document ID from their brokerage-provided statement will allow you to import their stock transactions directly into their tax return. TaxAct will connect with Capital One Investing to import the stock transactions for the account indicated. Each stock transaction will then create a Form 1099-B in the TaxAct return. The information will then transfer accordingly to Schedule D and Form 8949.
For more information about importing Capital One Investing transactions into TaxAct, visit the FAQ on Capital One Investing - Electronic Import.
Form8949.com
Form8949.com is a third party software vendor that can allow your clients to compile all of their stock transactions from multiple brokerages into one account.
With a Form8949.com account, you will have two options for entering your client's stock information into TaxAct. For clients with fewer than 2000 transactions, you can electronically import each transaction into their tax return. Each stock transaction will create a Form 1099-B.
In addition to electronic import, Form8949.com users can also use the Form 8949 attachment option in TaxAct. This is especially useful for clients with over 2000 transactions. Form8949.com will generate a summary report that lists the totals for each reporting category. These summary totals can then be entered into the client's tax return and they will be reported on Form 8949 and Schedule D accordingly. Form8949.com will provide your clients with a PDF version of their Form 8949 attachment which you can then attach during the e-filing steps of that client's return. If you do not include the attachment during the e-file steps, you will still be able to e-file your client's return, however the Form 8949 attachment along with Form 8453 must then be mailed to the IRS.
For more information about entering Form8949.com transaction information into TaxAct, view the FAQ on Form8949.com - Electronic Import.
GainsKeeper
If you client has a GainsKeeper account, you can either import all of their stock transactions directly into their TaxAct return or you can choose the Form 8949 attachment option.
GainsKeeper accounts with less than 2000 transactions, can import the stock transactions directly into the tax return which will create a Form 1099-B for each transaction. Otherwise, your client can obtain a Form 8949 attachment from within their GainsKeeper account. This Form 8949 attachment can then be used to enter summary totals into their TaxAct return. You can then include the Form 8949 attachment as a PDF attachment during the e-file steps.If you choose not to include this attachment during the e-file steps, the Form 8949 attachment along with Form 8453 must be mailed to the IRS.
For more information about importing GainsKeeper transactions into TaxAct, view the FAQ on GainsKeeper - Electronic Import. For more information about the Form 8949 attachment option, view the FAQ on Form 1099-B Summary Totals.
Raymond James
Using a client's Raymond James account number and their document ID number from their brokerage provided statement, TaxAct will automatically import a client's stock transactions for you. Each stock transaction will create a Form 1099-B in your client's return and the information will transfer accordingly to Schedule D and Form 8949.
For more information about importing Raymond James transactions into TaxAct, visit the FAQ on Raymond James – Electronic Import.
Betterment
By entering a client's Betterment account email address and password, TaxAct will automatically import a client's stock transactions directly into the return for you. Each stock transaction will create a Form 1099-B in your client's return and the information will transfer accordingly to Schedule D and Form 8949.
For more information about importing Betterment transactions into TaxAct, visit the FAQ on Betterment – Electronic Import.
CSV Stock Import
If you use another brokerage or software vendor, you can import your transactions from a CSV (Comma Separated Values) file. Simply follow these instructions.