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How to import TXF file into turbotax


Q)How to import TradeMax TXF file into turbotax?

With TradeMax, you can export your gains and losses to popular tax software programs with the TXF Export function.Here we will provide you with a step to step wizard to show you how to export your TXF file with the TXF Export function

For example, if you want to export the FY2008’s G & L Report to TXF file, you can do the following:

  1. Right click the folder FY2008 under the Trade Bar and select the TXF Export from its context menu:
  2. Following dialog box will pop up:
  3. Select the path & File name to save your TXF file.
  4. Press Save button to finish the process. Now you can find your TXF file in your selected path.

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File Your Tax


You can not only print the appropriate TradeMax G&L report and mai it as a attachment, but you can also export your TradeMax gains and losses to popular tax software programs with the TXF Export function.

In this section, we will show you how to print your report and export your TXF files.

TXF Export


With TradeMax, you can export your gains and losses to popular tax software programs with the TXF Export.

The following illustration will provide you a step to step wizard to show you how to export your TXF file with the TXF Export function:

For example, you want to export the FY2008’s G & L Report to TXF file, you can do the following:

  1. Right click the folder FY2008 under the Trade Bar and select the TXF Export from its context menu:
  2. Following dialog box will pop up:
  3. Select the path to save your TXF file.
  4. Press Save button to finish the process. Now you can find your TXF file in your selected path.

Export Trade Data to TaxAct


Export Trade Data to TaxAct

There are two processes involved in using TaxACT® to file your trading gains and losses with TradeMax:

Step 1 : Export Trade Data from TradeMax

Step 2: Import Data into TaxAct

Follow the instructions below to export trade data from TradeMax then import the data into TaxAct.

Step 1 : Export Trade Data from TradeMax

The following  illustration will show you how to export trade data from TradeMax:

  1. Run TradeMax, Click the specifc account and select the specific financial year.
  2. Right click specific Financial Year (e.g FY2009), and a dropdown list pops up:
  3. Select TaxAct Export option, a dialog box appears as below:
  4. Save your data into the specific directory.

Step 2: Import Data into TaxAct

Follow the steps below to import your TradeMax generated CSV file into TaxACT® Online version:

  1. Open your web browser and navigate to your TaxACT® 2010 Online Deluxe account.
  2. From the Q&A main menu, select the Federal Q&A tab.
  3. Expand the Investment Income menu option,and  then select Gain or loss on the sale of investments.
  4. Select Import from a brokerage provider via a CSV file option.
  5. Click on Import CSV File.
  6. Click on the Browse button.
  7. Navigate to and select the appropriate CSV file you saved in your computer.
  8. Next click Continue to begin upload and import process.
  9. TaxACT® will attempt to indentify the column header data in the file as shown in the images below. Make sure that the header data is identified correctly, the then click Next.
  10. Next TaxACT® will prompt you to select which rows of data will be imported. By clicking the check box at the top of the Import column you can select all rows – typically the easiest method.
  11. Click OK when prompted.
  12. Now you will need to un-select the top two rows, and bottom two rows as shown in the images below. Then click Next to continue.Note: TaxACT® will now allow you to chose the owner of the data, if necessary. Click Next to continue.
  13. TaxACT® will list all data found in the CSV file, click Import to complete the data import.
  14. Click Close when finished.
  15. To review the import result click on Income under the Federal Q&A tab.
  16. The total listed under Capital Gains & Losses should reflect the total gain or loss reflected in TradeMax (in addition to any other capital gains or losses you have already entered into TaxACT). Once you complete your online filing you can confirm your short-term and long-term capital gains and losses on the Schedule D form.
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