Creating my own TXF file. Added entries for all the stock transactions. When TT imports them they show up as "No Financial Institution". How do I list the Institution?

[roylewis]

My institution doesn't (yet) support importing financial data.  They instead supply me with TXF file.  When I import this I get "No Financial Institution" for the Institution Name for the stock transactions or 1099-B (works fine for 1099-DIV).  I've spent some time over the years understanding TXT file format but cannot figure out how to indicate the institution name for all the 1099-B stock sales entries.  I tried adding a "X" entry for each stock transaction but TT rejects this file.  Does anyone have any experience with this?

[PatriciaV · Accepted solution]

"No Financial Institution" is used to indicate that the transactions were not imported from an online source. As long as you report all the activity from Form 1099-B, you should be fine. (None of the IRS forms on your return include the name of the brokerage.)