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How Do I Export from TAPro to TurboTax
Posted by Henry Gage on 05 March 2010 02:04 AM
Regarding: How Do I Export from TAPro to TurboTax

Question:
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When I export my tax report to TurboTax it doesn't transfer wash sale adjustments. I checked .TXF file and it is doesn't have any wash sale adj. I was trying to export my tax report as IRS(TXF) type and it DOES have wash sale adjustments, but TurboTax is giving me an error that it is not a TXF file.

Answer:
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TurboTax requires a unique set of tags to identify wash sales. To accomplish this they defined the following tag: N682. In TAPro this tag only appears if you select File/Export to Tax Software... then select the "Save as type:" of TurboTax.

Here are the steps:
Part A. TAPro:
1. View/Properties/Wash Sale: On
2. File/Export To Tax Software
3. Save as type: TurboTax (TXF)

Part B. TurboTax:
1. Launch TurboTax
2. Select Start a new Return or Continue Return
3. Select File/Import/From Accounting Software
4. Select Other Financial Software (TXF-file)then Continue
5. Select the link for "Browse To Find File"
6. Navigate to the file saved in Part A and select to open that file
7. Select Import Now.
8. When offered to Choose Information to Import... Select the check box for "Stocks/Bonds/Mutual Funds". Then select "Import Now"

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