Open Solution Means Compatibility
With hundreds of brokers each using their own format for stock and options trade data, there is no guarantee of import compatibility
with tax preparation software.
Some brokers may include non-trade data, like interest, dividends, and fund transfers. Options trades might be missing.
Transaction descriptions can vary, like "buy" or "bought", causing confusion. The ordering and arrangement of data
can be different, producing unexpected results. And, the format can change from one year to the next.
How can tax preparation software be expected to keep up with so much variation and potential change among so many brokers every year ?
Despite the many variations, though, most brokers do provide the capability to download trades in CSV or XLSX format.
Schedule D Tax Tool can then be used to generate a standard format TXF file, which can quickly and easily be imported
into most tax preparation software. The open solution approach means that Schedule D Tax Tool
won't break whenever your broker changes its trade data format.
So instead of being dependent on tax preparation software keeping up with broker updates each year,
switch to the open solution of Schedule D Tax Tool, and get control of your trade data.