Unfortunately, I couldn't download my Fido trades to TurboTax,
because Turbotax couldn't handle several thousand trades. I worked
with both the Fido and Turbotax technical people last month to find
a solution, to no avail. I'm hoping they will be able make some
changes so next year to improve their capabilities for really
active traders. Or better yet, I should trade less!
Posted by ocracoke53 on 28th of Apr 2009 at 07:26 am
Schedule D software - I've been using TradeLog (it's not cheap)
but worth every cent. Trade using StreetSmart Pro (Schwab), go
online with Schwab and export my trades then do an import into
TradeLog. TradeLog will construct the Schedule D (with wash sales)
and I give the forms to my accountant.
Why do you need to use Tradelog? I use StreetSmart also
and everything downloaded perfectly right into my Turbotax
(including handling wash sales perfectly). Thanks.
Posted by ocracoke53 on 28th of Apr 2009 at 08:04 am
kurzweg,
not saying Turbotax isn't a great tax program - I just don't use
the package. I do about 1200 trades a year and at the end of the
month I'll download the trading transaction file into Tradelog. For
a number of reasons, I let the accountant do my taxes.
Posted by snowcrow on 28th of Apr 2009 at 05:28 am
Wow thanks for sharing that. I've made several hundred trades
this year. It could be somewhat of a nightmare to go through every
single one. I'm now wondering how many trades that Turbotax will
download, not just with Fidelity but with other brokerage
firms.
It would have been an absolute nightmare for me. I'm
certain there are no limits on the # of trades it can handle.
I get $8 trades with Schwab, I think $1 or so cheaper than stated
rates due to my volume. For me its a good deal because they
have a flat rate of $8 for up to 5,000 shares and I typically trade
1k to 5k on each trade.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Unfortunately, I couldn't download my
schedual d for trade station
Posted by jhsimon on 27th of Apr 2009 at 11:57 pm
Unfortunately, I couldn't download my Fido trades to TurboTax, because Turbotax couldn't handle several thousand trades. I worked with both the Fido and Turbotax technical people last month to find a solution, to no avail. I'm hoping they will be able make some changes so next year to improve their capabilities for really active traders. Or better yet, I should trade less!
Schedule D software - I've
Posted by ocracoke53 on 28th of Apr 2009 at 07:26 am
Schedule D software - I've been using TradeLog (it's not cheap) but worth every cent. Trade using StreetSmart Pro (Schwab), go online with Schwab and export my trades then do an import into TradeLog. TradeLog will construct the Schedule D (with wash sales) and I give the forms to my accountant.
Tradelog use
Posted by kurzweg on 28th of Apr 2009 at 07:53 am
Why do you need to use Tradelog? I use StreetSmart also and everything downloaded perfectly right into my Turbotax (including handling wash sales perfectly). Thanks.
folks who use IB and
Posted by matt on 18th of May 2009 at 11:55 am
folks who use IB and others have to use tradelog etc, that's why people use tradelog
kurzweg, not saying Turbotax isn't a
Posted by ocracoke53 on 28th of Apr 2009 at 08:04 am
kurzweg,
not saying Turbotax isn't a great tax program - I just don't use the package. I do about 1200 trades a year and at the end of the month I'll download the trading transaction file into Tradelog. For a number of reasons, I let the accountant do my taxes.
accounting and Turbotax
Posted by snowcrow on 28th of Apr 2009 at 05:28 am
Wow thanks for sharing that. I've made several hundred trades this year. It could be somewhat of a nightmare to go through every single one. I'm now wondering how many trades that Turbotax will download, not just with Fidelity but with other brokerage firms.
Turbox
Posted by kurzweg on 28th of Apr 2009 at 07:26 am
OK, my bad. I didn't see that earlier comment about Turbotax not being able to handle thousands of trades.
Turbotax
Posted by kurzweg on 28th of Apr 2009 at 07:24 am
It would have been an absolute nightmare for me. I'm certain there are no limits on the # of trades it can handle. I get $8 trades with Schwab, I think $1 or so cheaper than stated rates due to my volume. For me its a good deal because they have a flat rate of $8 for up to 5,000 shares and I typically trade 1k to 5k on each trade.