Save Money On Tax Preparation Software
Do you typically purchase the more expensive investment edition of tax preparation software in order to process your stock and options trades ?
And do you find yourself disappointed, or maybe even feel ripped off, because completing Schedule D is not the easy process you were led to believe ?
With Schedule D Tax Tool you won't need the more expensive investment edition of tax preparation software. You can purchase the cheapest edition which
allows TXF file importing, and that can save $55 or more every year !!
Prepare the trade data externally in a spreadsheet, generate the standard format TXF file with Schedule D Tax Tool
and then import to tax preparation software.
Each desktop edition of tax preparation software provides the feature for TXF file import. Why spend the extra money ?
Step By Step
Save money with Schedule D Tax Tool...
Even More Cost Savings
- download stock and options transactions from your broker in XLSX or CSV format
- PURCHASE SCHEDULE D TAX TOOL (of course), one-time payment, no annual license
- use the Schedule D Wizard to match up trades and generate the TXF file
- purchase the cheapest desktop edition of tax preparation software
- import the TXF file into the tax preparation software and inspect
Because paying taxes occurs annually, tax preparation software companies charge full price each year. And that means
the cost savings from purchase of the cheaper tax preparation software are repeated yearly.
Also, Schedule D Tax Tool does not require full price purchase every year. Schedule D Tax Tool is a one-time payment
with a forever license, that can be used year after year to generate the TXF file of stock and options trades.
Any upgrades are optional, and would be at the discounted upgrade price.
The price of tax preparation software can run from $25 to $99 or more. It is cheaper, more efficient, more accurate, and
more secure to use the above process.
In general, it is recommended to purchase the cheapest desktop edition of tax preparation software, because upgrading is easy.
The cheaper software will ask during the interview process whether you would like to upgrade, regardless of whether it is really worthwhile.
On the other hand, it requires a lot of effort to downgrade, because you have to contact customer support, go through a refund process,
remove the expensive product, and finally install the cheaper edition.
Most brokers will let you download all your transaction data for stocks and options into CSV or XLSX spreadsheet format. You can then make some
fairly straightforward modifications, like removing non-trade data, so that Schedule D Tax Tool can process the file.
Schedule D Tax Tool upgrades may be released with enhanced features. Purchase of the upgrade is not required, and the initial product
can be used for many years. However, the upgrade price is substantially lower than the initial purchase, so it is typically worth upgrading
at tax time each year for the extra features.