TradeStation-to-TurboTax (via Quicken)

Discussion in 'Trading Software' started by ZTrader, Mar 10, 2003.

  1. ZTrader


    Here's the deal (after working with intuit). If you perform a direct import from Quicken into Turbotax (the way recommended in the TurboTax SW, you will most likely end up with errors (i.e. the sale date will not come across in some of your transactions resulting in dropped data on import into turbotax)

    The following approach works and was suggested by the escalated tech support (NOT 1st Tier) at Intuit. This may not be the most direct approach, but you (or at least I did not end up with errors). Note that I was using Quicken Basic 2002 and TurboTax Deluxe for TY2002.

    Importing TradeStation Data into TurboTax
    1. Log into TradeStation and export your transactions by quarter for Long Transactions and for Short Transactions (total of 8 files)

    2. Set up 2 new brokerage accounts within Quicken; one for Long transactions and one for Short transactions

    3. For Each Account, import the QIF files (exported from TradeStation) for each quarter (4 files per account,
    8 total).

    4. Export a TXF file or your Capital Gains from Quicken
    a. Report > Taxes > Capital Gains
    b. Check the correct dates (i.e “Last Year”)
    c. Check the accounts Tab and verify that the accounts in question (i.e. Long and Short) are checked
    d. Once the Report is generated, export to a TXF file on your desktop
    e. Close Quicken

    5. Open TurboTax and import transaction data
    a. File > Import > from Accounting SW
    b. Highlight “Other Financial SW”
    c. Browse and find/select the file you just saved to your desktop
    d. Click continue and finish the import

    6. Check Schedule D to verify the data

    Let me know if this information was useful (or if there was another way to get from TS to TurboTax). THX!