Difficulties importing a .txf file of stock sales into Schedule D.

[JVH3]

I am trying to import a .txf file of my stock transactions into Schedule D.  (In my case, a direct import of stock transactions is not possible.)  I am using the Premier Desktop version (same as the CD version), because .txf file data can only be imported into that version or into the Home and Business version. 

I am running into some problems that I hope others of you have solved.  When I attempt to import a .txf file to TurboTax running on a Windows computer, I am told that I need a .txf app -- but, much to my surprise, there is no .txf app available in the Windows App Store to download.  (How can this be, when so many Windows users, such as those with Quicken products, need this application for various financial transactions?)  So that means I must search the internet for an app sold by another party.   Has anyone found one that works well?  I've been surprised in my searching that it's difficult to find an app for this simple purpose (as opposed to other more complicated .txf issues, such as converting other forms of financial data into a .txf file).  Also, a couple of the apps I've come across seem to be a decade or more old, leaving me wary (though my research suggests that little or no changes have been made to the .txf format during this time).

I have also tried to download my broker's .txf file into TurboTax's Premier Desktop edition for Macs and have run into the identical problem:  An app is required, but the Apple App Store has no .txf app available.  At the same time, I've run into an additional obstacle.  TurboTax instructions on how to import .txf files guide one to click on the File button in the upper left corner of the screen to access import options.  (See, for example:  How do I import from the .txf file? ).  I have such a button in my Windows version of TurboTax (along with buttons for Edit, View, Tools, Online, and Help), but my TurboTax for Macs has no such buttons.  Can anyone explain why these buttons are missing in the Mac versions?

How do I import from the .txf file? (intuit.com)

[fanfare]

You said you have a .txf file.

You don't need an app to import a .txf file.

The format of the .txf file has to be correct according to TurboTax import rules.

[JVH3]

Thanks for your reply.  I am new at this, but this is what my experience is suggesting.  An import of current year 1099 data into Schedule D on TurboTax doesn't require creating a TXF file of one's taxes.  The import happens seamlessly, when you initiate it as you are working on your taxes in TurboTax and are instructed to type in your account number with your broker and the document ID number from your particular 1099. 

However, in some cases and with some brokers, this process isn't possible.  In my case, I am working on last year's return and my brokerage company, TD Ameritrade, only supports the sort of direct import described above with current year taxes.  However, TD Ameritrade and many others also provide their 1099s in .txf file format, (which TurboTax created years ago and which should import easily).  However, my understanding is that one must first create a separate .txf file of one's 1099 in one's financial software so that it can be imported into Schedule D.  After this, one can go to the File menu in TurboTax and select Import>From Accounting Software (in Windows) in order to find where it is stored on one's computer.

So this is where my Windows computer seems unable to process and take onboard the .txf file and asks for an app.   Has anyone else run into this problem?  Did you download an app, or is there some financial software I need to download, or should I be expecting the TurboTax Premier Desktop software on my computer to serve as the financial software that should be facilitating the receiving of the .txf file (and if so, do I need to do anything to make this work)?

[MichelleLO]

The accounting software the instructions are referring to is Quicken. TurboTax supports a direct import from Quicken 2020, 2021, and 2022 via a Quicken .txf file. For more information, please see the below TurboTax help article. 

How do I import from Quicken in TurboTax CD/Download Basic, Deluxe, Premier, or Home & Business for ...