raven1818 Posted February 13, 2012 Report Share Posted February 13, 2012 Have any members had need to put in more than 100 schedule D transactions this tax season. I thought ATX was going to give us the ability to send attachments with the individual returns this season for our "day trader" clients. Has anyone had to deal with this problem this season. I know in the past there have been lively discussions regarding this matter. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 13, 2012 Report Share Posted February 13, 2012 There is the ability to attach .pdf files. However, the IRS will not accept an attachment with the information. All transactions must be entered into the tax return. If the day trader can provide you ALL the NEEDED INFO in an excel spreadsheet, you can import directly into the program. You must make sure the spreadsheet is configured correctly to get the right information in the correct place. Otherwise, get ready to hone your typing skills and charge a lot more.... Quote Link to comment Share on other sites More sharing options...
jainen Posted February 13, 2012 Report Share Posted February 13, 2012 >>the IRS will not accept an attachment with the information<< Your software should have a way to do this. The instructions to Schedule D (now including Form 8949) still say "Instead of reporting each of your transactions on a separate line of Form 8949, you can report them on an attached statement containing all the same information as Form 8949 and in a similar format." Quote Link to comment Share on other sites More sharing options...
ljwalters Posted February 13, 2012 Report Share Posted February 13, 2012 This is crazy this year. We can no longer mail the brokerage statement via the 8453 as long as it is in the correct format? Linda Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted February 14, 2012 Report Share Posted February 14, 2012 Linda, Is that correct that we cannot use the 8453 and attach stmt as long as it is in correct format? Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted February 16, 2012 Report Share Posted February 16, 2012 Any futher news on this question? Quote Link to comment Share on other sites More sharing options...
jainen Posted February 17, 2012 Report Share Posted February 17, 2012 >>Any futher news on this question?<< You mean the question of whether we are supposed to follow the IRS instructions I quoted? How about the actual Form 8453 we are discussing? It has a check box for attaching "Form 8949, Sales and Other Dispositions of Capital Assets, (or a statement with the same information)." Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted February 17, 2012 Report Share Posted February 17, 2012 Can we still use the 8453 with the 8949 with the information. I really don't like to put in 30 to 50 sales if I don't have to. Also how would you bill for this if you had to put these in? Quote Link to comment Share on other sites More sharing options...
jainen Posted February 17, 2012 Report Share Posted February 17, 2012 >>Can we still use the 8453 with the 8949 with the information<< Maybe i"ll change my name to Cassandra. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted February 17, 2012 Report Share Posted February 17, 2012 >>Can we still use the 8453 with the 8949 with the information<< Maybe i"ll change my name to Cassandra. Blame it on Apollo Quote Link to comment Share on other sites More sharing options...
Randall Posted February 17, 2012 Report Share Posted February 17, 2012 In the past I've entrered the entries or attached statments to the 8453. This year I had one client send me a csv file. I already have received it from the broker but I'm waiting for the client to bring in his info to begin the return. I hope to try the download and see how smoothly it goes. ATX does have that import worksheet. I want to try to take advantage of this more. Quote Link to comment Share on other sites More sharing options...
raven1818 Posted February 18, 2012 Author Report Share Posted February 18, 2012 Thanks to everyone for responding. I ended up using the ATX feature for schedule D and added the information from the broker statement via the client "CSV" file. It worked like a dream and it even fills in the sale/cost information on the state returns where necessary. I really must say the software has greatly improved over the last 10 years I have used it. Quote Link to comment Share on other sites More sharing options...
grandmabee Posted February 18, 2012 Report Share Posted February 18, 2012 How do you get the client CSV file? When I ask the client they know nothing and when I called the broker they couldn't tell me either. Do they have to have a online account with broker to do this? Do they send you the csv file thru email? Quote Link to comment Share on other sites More sharing options...
Hahn1040 Posted February 18, 2012 Report Share Posted February 18, 2012 Clients can generally get an excel file from the brokerage or fund co. The client sends you the excel file electronically (email, upload to secure site, or transfer on CD or thumb drive, etc) You then save the excel file as a csv file then you can import Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 19, 2012 Report Share Posted February 19, 2012 I have gone to the client's page in the brokerage website and download the reports. Clients are quick to give me access when I tell them that if I put them all in manually, it is $1 per transaction. I charge 25% of that amount if I am able to download. Sometime you get paid for what you know, not what you do.... Quote Link to comment Share on other sites More sharing options...
Randall Posted February 19, 2012 Report Share Posted February 19, 2012 I asked this client ahead of time because he usually has a lot of transactions. I asked him to get the file and either send it to me or bring it in on a flash drive. Apparently, he had the broker send it to me directly by email. I think most brokers can do an excel file or csv file directly. Quote Link to comment Share on other sites More sharing options...
GLJEANNE Posted February 24, 2012 Report Share Posted February 24, 2012 My csv spreadsheets have everything coded for the Form 8949 Box - but I don't see an option in ATX to bring that data over. If we import the data, is there a way to fill that in too, without going through manually? Quote Link to comment Share on other sites More sharing options...
Dale in IN Posted February 24, 2012 Report Share Posted February 24, 2012 I e-filed a return last week and all I did was put on the input sheet as long/short term C/G 1099-B. List the short on one transaction and the as another. That is providing you have all the basis . Make sure your figures match the 1099-B. I may hear about it later but it went through e-file anyway. Quote Link to comment Share on other sites More sharing options...
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