Importing TradeLog TXF File Into Desktop TurboTax

Forum|Forum|5 years ago
May 1, 2020
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I imported my TradeLog TXF file of my 2019 trades for filling out Sch D and 8949s. But then TurboTax has me manually enter the totals (aggregate proceeds, cost, gain/loss) and category. In fact, it doesn't seem to use the TradeLog data I imported at all. TT produces 8949s, but they just say "TradeLog - See attached statement" without including a list of the individual trades. Also, it doesn't even report a summary for the category of short-term, not reported. It looks like I am going to have to just enter the summary data for the Sch D manually and then send in the TradeLog 8949s. Is there no way to use t he TXF TradeLog data?

TurboTax Home & Biz Windows

fanfare

Employee

you should be talking to TradeLog to find out how to do this correctly.

w-burnhamAuthor

Employee

I already have. Here's what TradeLog says on their website:

Notice: We no longer provide detailed step-by-step instructions for importing TXF data into TurboTax®. Our users have found the Form 8453 method to be the simpler and most accurate way to e-file with TradeLog reporting.

How to import TXF files into TurboTax is pretty straight-forward and TradeLog provides instructions on how to do that. TurboTax even confirms the importing of the TXF file. It would seem that the problem is not with importing the TXF data into TurboTax --- it's what TurboTax does with the TXF file once it is imported. For some reason it doesn't seem to insert it into its 8949s -- either the bottom line summaries or the individual trades. So I think I am stuck between two outfits that are pointing the finger at each other. I wish one of them would solve the problem.