Topic: TAPro 2014 .txf version for 6781 and 8949 Export to TurboTax
Tax Optimization offers can be sketchy. Basically you can do a specific lot allocation during disposal of a position but not after you have traded. Check with your tax person to confirm. We include a FIFO algorithm and we allow you to do a specific lot disposal.
When brokerages report they likely use FIFO unless you have already indicated a different choice. Considering that they have already mailed your 1099, choosing a different method for 2013 reporting is likely moot at this point.
Regarding 6781 reporting, typically you can take the entire G/L for the year and split is 60/40. TA includes a report for this. However the .txf spec used by TurboTax has no reference to tags for this report.
TAPro is coded to a prior version of the spec version 41 because we have waited to see if upstream coding has codes that clarify which version 8949 form the data is for. At this point it is not defined in the upstream data so there is a burden on the user to sort this out. Users a present are able to meet their needs using the current version of TA.
The latest version of the spec is:
> I'm considering a purchase. I have a couple of questions.
> Your web page repeatedly mentions FIFO for tax treatment. If I
> selected tax optimization at my broker, does that mean 1099 and
> TradeAccountant are going to disagree even though I can sync to my
> broker? Does that mean big work for me?
> I have some option trades that qualify for 1256 contract treatment.
> Does TradeAccountant correctly import form 6781 information to