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, see TD Ameritrade – Electronic Import.
Capital One Investing
Entering a client's Capital One Investing account number and document ID from a brokerage-provided statement will allow you to import stock transactions directly into the tax return. TaxAct will connect with Capital One Investing to import 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, see Capital One Investing - Electronic Import.
Form8949.com
Form8949.com is a third party software vendor that can allow your clients to compile all 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 the 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 totals can then be entered into the client's return and they will be reported on Form 8949 and Schedule D accordingly.
Form8949.com will also provide a PDF version of the Form 8949 attachment which you can attach during the e-filing steps of that client's return. 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 entering Form8949.com transaction information into TaxAct, see Form8949.com - Electronic Import.
GainsKeeper
If your client has a GainsKeeper account, you can either import all stock transactions directly into the TaxAct return or you can choose the Form 8949 attachment option.
GainsKeeper accounts with fewer than 2000 transactions can import 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 the GainsKeeper account, which can be used to enter summary totals into their TaxAct return. You can 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, see GainsKeeper - Electronic Import. For more information about the Form 8949 attachment option, see Form 1099-B Summary Totals.
Raymond James
Using a client's Raymond James account number and the document ID number from the 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, see 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, see 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.