TurboTax

How do I import my trade history into TurboTax?

Look up your Ustocktrade Tax password.

    1. Log into your Ustocktrade account.
    2. Go to the side menu > Statements > Tax Forms.
    3. Your Tax password will be displayed.
    4. Login to your TurboTax account
    5. When prompted to “Choose your bank or brokerage,” type “Ustocktrade.”
    6. Enter your Ustocktrade User ID and unique Ustocktrade Tax password.

All users will receive a Ustocktrade Tax password even if they choose not to use this product.

For more information on how to import your 1099 form in TurboTax, click here.

 

How many stock transactions can TurboTax Online handle?

TurboTax Online can import up to 500 transactions per brokerage account.

TurboTax CD/Download software can import up to 2,000 transactions per brokerage account.

For more information on TurboTax transaction import limits, click here.

If you have more than 2,000 transactions you will be unable to import any transactions directly into TurboTax. Alternatively, we provide a CSV file of all your transactions with your tax documents.

 

Turbo Tax may round your data—which could lead to misreporting wash sales and dividends.

In some cases, Turbo Tax online and desktop software may round the data imported from Ustocktrade. This is a part of their software import, so please verify the data imported into Turbo Tax with the information provided on your Ustocktrade tax forms. For more information on rounding, please see the IRS instructions for Form 8949.

 

Turbo Tax’s rounding may cause some values to import as $0 or some wash sales to be rounded to $0, which may not automatically import the adjustment code “W” for these transactions. Please review your imported transactions against your Ustocktrade tax forms to verify the correct code is selected.

 

Ustocktrade Securities, Inc. does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.

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