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From TXF Express:
TXF Reader can generate Schedule D reports (Form 8949), combine TXF (Tax eXchange Format) records, and convert TXF files to CSV (Comma Delimited) files. You can import capital gains and losses in the TXF format into a spreadsheet application (e.g., MS Excel) for history tracking. The generated CSV file is useful for Schedule D Form 1040 generation. In general, tax preparation software such as TurboTax and TaxCut has a limit on the total number of records imported from a TXF file. For example, you can not import more than 3,000 TXF records into TurboTax. If you are an active investor and have more than 3,000 transaction records, you may consider buying TXF Reader to reduce the total number of transaction records and generate a smaller TXF file for import into tax preparation software. The reduction is done by combining multiple gain/loss record of the same security symbol, of the same acquired date and of the same sold date into one. TXF Reader is downloadable software with a single-user license.
What's new in this version:
- Updated to support the new Schedule D Form 8949 for Tax Year 2012.
- Added support for merging and browsing more than one TXF file
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"Excellent Utility to Consolidate TXF Files-Recommended!"
Version: TXF Reader 1.0
Pros
Easy to use software to consolidate TXF files and convert to CSV. Customer service and support are excellent - they are very customer focsed. Pricing is very reasonable. I'm a very satisfied customer!
Cons
Read the website carefully to see wjat products you need. Some products have overlapping functionality. If you have a TXF form that is not supported, send them a copy and they'll add it. No Phone Number or live support - but email was very effective.
Summary
Here is the scenario - I had over 3000+ stock transactions and exceeded a limit in Turbotax and was told there was no solution, so they would send me a refund. Turbotax said the limit was hard coded and couldn't be changed. My option - enter EVERY transaction by hand in the appropriate form, and it MIGHT work...they couldn't tell. So I did a quick internet search and found this small company with reasonably priced utilities. One of them - TXF Reader talked about the Turbotax (and other software limits) and promises to consolidate same day trades to reduce the size of the file. It is very reasonably priced, and I was in need of a solution that would not require I enter all of my trades by hand. I downloaded the product and installed it only to find out my brokerage firm was not a format they supported...yet. I sent an e-mail to their support group with a copy of of my TXF file, and was thrilled to receive a note the next day that the format had been added, and that they had added a special feature to help me get my file under the 3000 record cap. OUTSTANDING. They explained the special feature and approach, and it solved my problem completely. My Taxes filed on time, and without errorts. The customer service and approach were outstanding - I can't tell you how pleased I am with this company. If you have issues with Turbotax limits, or have software based approaches to managing your stock trades, look at this company's products to see if they can help you be more efficient and effective. They saved me, and will save many others who have the same problems with Turbotax or other software.
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