This is the first year I am doing my tax return that involves stocks. Is it possible to import the records of stock transactions into TurboTax? I bought and sold a lot of stocks in 2007 and it will be a pain to have to enter in every buy and sell of stock I made into my tax return. I'm using TurboTax to do my return. How do you go about doing your taxes that involves a lot of stock transactions? I'm new at all of this.

There are export files to MS Money and Quicken and maybe even Excel for free. Gainskeeper is a much more powerful tool and costs 24$ a month I believe.

canopy -

I wanted to refer you to this page: http://www.zecco.com/

It says:

As a Zecco Trading
customer, not only do you get free stock trades every month, but you
also get access to premium performance and tax planning tools. All new
customers can enjoy these great features at no cost for a two-month
trial period. Afterwards, you can sign up for a six-month subscription
at $24.99, a fantastic deal that is hard to find elsewhere.

Thanks,

Tony Leach
Product Manager, Zecco

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tonyleachsf, Zecco Associate

I can not figure this out either. I'm even trying to find my yearly statement on http://zecco.com I don't want to add up every month, that is archaic. There should be an easy way to import it into turbotax.

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www.seanhiggins.net

yes you can but you need to have the Premier Edition of Turbo.

PS. Scottrade gives you Gainskeeper for free...............................

Steve

I'm an old dog and still do tax returns by hand. To avoid having to do it all at once at year end, I record each trade as they occur on a previous year D-1, then at year end litterally cut and paste onto the current year D-1 and photocopy . It's a snap! Now I assume you could virtually do the same thing using whatever application from which the tax program allows importing.

I averaged about 200 trades per month since July, so I've got A LOT of transactions (long/short stocks, and plenty of options).

Has anyone used the gainskeeper and imported directly to Turbo Tax? How easy is it? And does it calculate cost basis for you? (Along with realized gain/loss?)

I really don't want to calculate this on my own - it would probably take me a couple days to do...

I wish you luck. I have been trying to get mine into TurboTax, too. However, I am an open source user who is looking for a way to export my records to a .txf format. I also have a Scottrade account and the import of hundreds of trades into TurboTax is automatic. At this point I have had no luck with Zecco's .ofx or .qfx exports. Upon import into my financial software nothing seems to line up. Let me say this - 2007 was my first AND last year with Zecco. Thier CS leaves much to be desired and makes me wonder - what does FREE really mean?!?

After importing to turbo tax does it automatically calculate your gain/loss and cost basis in turbo tax? That's the answer that I'm looking for.

I really don't want to have to go through and do that for each of my trades...

Zecco,
I really think you should chime in here as tax time has arrived and many of your customers don't know how to file their taxes because Zecco is making it challenging. I am also a Fidelity customer and I imported my records into Turbotax in about a minute. Please offer us some assistance.

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www.seanhiggins.net

I subscribed to Gainskeeper. The cost is only $24.99 for 6 months, not monthly. A cost I'm willing to pay not to have to keep track of everything myself. I did use this when I filed my taxes with Turbotax. They had a pulldown menu for list of financials, Gainskeeper was one of them. I clicked on it, entered my username and password (which you can find on the Gainskeeper tab here at Zecco once you subscribe - it is not the same as your Zecco username and password), and voila! the info was automatically placed into the appropiate forms. This did save a lot of time for me. I would recommend using it if you don't have the time to enter the information yourself.

Hello hayden708,

Thanks for your information. Did you have to calculate cost basis and gain/loss though once you input that information? Or did turbotax calculate it for you?

And also, what about wash sales? I apologize for all the questions, this is my first year with more than 20 trades...

You do not need TurboTax Premier. I paid for a Gainskeeper subscription so it created my Schedule D and I used TurboTax Deluxe. TurboTax was able to access my Gainskeeper info. It was very easy and well worth the money.

Supersetoy - gainskeeper and turbotax will calculate your gains/losses.

To the OP canopy, I just finished importing stock sale info from gainskeeper via TurboTax. When you open the gainskeeper tab from here, under "my settings" you will see your user ID and password to be used to access the info from TurboTax. It sure beats manually entering this info.