1099-B Importer is a solution to convert .csv files containing stock transactions into .txf files that can be used with most tax software.
Tax year 2013
Starting in tax year 2011, the IRS replaced the old Schedule D-1 by forms 8949 box A, B and C. For tax year 2013, boxes D, E, F replace A, B, C for long-term transactions.
1099-B Importer has been completely updated to support the new 2013 forms.
Two new columns have been introduced in the mapping screen to specify any disallowed loss (wash sale) and which form 8949 (A, B, C, D, E or F) each transaction belongs to.
1099-B Importer now converts .csv files to the latest .txf format (v042 TXF) which is required in order to import your transactions to the correct copies of form 8949.
1099-B Importer Tax Year 2013 available here!
Why convert .csv files into .txf files
When you make a lot of stock trades, getting your 1099-B cost basis information into your favorite tax software can be a time-consuming task. TurboTax® and TaxCut® support direct
1099-B downloading from only a limited number of brokers. They allow you to import stock transactions as a .txf but most brokers don't offer this file format.
Even if they do provide a .txf, a lot of brokers do not always report the same tax lots in their downloaded .txf as in the paper 1099-B forms they sent to the IRS.
With no good import solution, you could thus spend hours manually entering each trade you made during the year.
This is where 1099-B Importer comes in handy. It converts the .csv file containing your trades into a .txf file that can be easily imported in your tax software.
Some of the benefits of 1099-B Importer
- Supports the latest IRS form 8949.
- Supports disallowed losses (wash sales).
- Generates .txf files compliant with the latest v042 TXF specification.
- Works on virtually any .csv file; just specify the column mapping.
- No need to upload your financial information to an untrusted website, all the software runs on your computer.
- No need for Excel or expensive software.
How to Use 1099-B Importer
Launch 1099-B Importer and follow the prompts:
- Review the information on the welcome screen, then press 'Next'.
- Select the .csv to convert, press 'Next'.
- Specify the column mapping, press 'Next'.
- Select the path of the target .txf, , press 'Next'.
- 1099-B Importer will display an error message for each line that can not be processed.
- Review the final summary.
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