TradeMax provides you the facility to Import data from more advanced formats which a majority of the brokers support. You can import Quicken(*.qif) or Text files etc.
The importing process is also a profile setting up process. It provides you with a wizard to filter the useful trade data, match the data, and then generate a TradeMax data format for the following tax calculation purpose; here is the wizard to import QIF file into TradeMax step by step
- Export the trade data in quicken: After you ran Quicken, select File> Export> QIF File, then follow the instructions in Quicken software to store QIF file into your desirable directory.
- Run TradeMax, select the account into which you want to import QIF data.
- Right click the selected account, and select “Import” , the following dialog pops up.
Function Description Account Select an account to import your data Trade Range Automatically display the date range of existing trades in the current account Import File Select data file from your computer Mode If you already have a user name and password of the selected account, select I want to connect to ***. I have a *** user name and password. If you have trade data in your computer, please select I want to import data from local file. Auto Assign Short If this function is activated, whenever TradeMax imports a sell before a buy for a symbol with no shares currently open, the trade will be recorded as short.
Note:You shouldn’t select Auto Assign Short if you did not Enter the Baseline Positions or Include the Baseline Position. In this case, TradeMax will assign the close long transaction as an open short transaction.
Convert Short to Long With One Transaction If your online brokerage accounts allow the conversion of an open, short position to an open, long position with a single buy transaction (and vice versa). You can activate Convert Short To Long function to allow TradeMax to make the necessary adjustments during the import process. TradeMax will automatically split up the single “buy” transaction into two – one to close the short position, and another to open up a new long position. Include Baseline If you have already appended baseline position, you will need to select the checkbox and enter your specific tax year or select it with the arrows at the right side
- Select I want to Import Data from Local file and make furthering settings, click Next to display the window below:
- Select Quicken Interchange Format(*.QIF) from dropdown list in Profile Field.
- Type, Record Separator, Field Separator, Text Qualifier are the default QIF forms.
- Select data file from your computer
- Click Next to the next step.