How to Import a TXF From Scottrade to TurboTax
Users of Scottrade, an online brokerage service for individual investors, can export their Scottrade 1099 into TurboTax software via TXF files. Information on the Scottrade 1099 covers closed transactions, interest and dividend information. TXF stands for tax exchange format, which permits the exchange of financial data across various online and software platforms. TurboTax provides online tools and software to complete income taxes and recognizes the TXF file format. However, the option to import a TXF file is not available in the online version of TurboTax.
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Instructions
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Open the Scottrade website, and log in to your account using your account number and password. Select "Home Page" from the "Start Page" dropdown menu. Click "Log In."
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Select "Gain/Loss & Tax Center" from the menu options.
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Select the "Tax Reports" tab, and scroll down to pick the year of the tax report you want to generate from the “Year” drop-down menu.
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Check “TXF Export” for “Download Type” and click “Go.”
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Click “Save” in the “File Download” box that opens. Enter a file name for the TXF data, and navigate to the desired location where you want to save your file. Click "Save."
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Open your TurboTax software.
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Open your TurboTax software.
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Select "File" from the main navigation menu and scroll down to "Import" and to the right to "Accounting Software."
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Select and highlight "Other Financial Software (TXF file)" from the list of options. Click "Continue."
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Select the "Browse" button to navigate to the location of your saved Scottrade TXF file. Click "Continue."
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Check the “Tax Information” box and click "Import Now."
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