|
|
FAQ| Frequently Asked Questions (FAQ) | |
|
|
| Q: | What is TXF and how is it used? |
| A: | Tax eXchange Format (TXF) is a standard data format for saving tax data in financial software. Almost all tax preparation software accepts TXF files for the purpose of generating Form 1040 Schedule D. By using TXF file, you will save time and avoid errors in entering data into the tax preparation software. |
| Q: | Should I use TXF Online or TXF Creator? |
| A: |
If you have less than 500 stock trades (including buy, sell, short, cover), we suggest that you use TXF Online, which is cheaper and more convenient (no software installation).
If you are a day trader and have more than 500 stock trades or if you have more than one brokerage account, we suggest that you choose TXF Creator Standard Edition or TXF Creator Unlimited Edition. TXF Creator allows you to process an unlimited number of TXF files from multiple brokerage accounts.
In addition, TXF Creator can combine daily trades easily without additional charge.
|
| Q: | Why I cannot launch the demo of TXF Creator? |
| A: | Most likely this is because you do not have Java 6 properly installed on your machine. Please go to Sun's java site (http://java.sun.com/javase/downloads/index.jsp). Click on the Download button next to Java SE Runtime Environment (JRE) 6 Update to download JRE 6. Try to launch the demo again after you have finished the installation of JRE 6. |
| Q: | How to load .txf file into TaxCut? |
| A: | Please follow the steps below: |
|
1. Open TaxCut.
2. When you get to the Import Data from Financial Software screen, click "Yes" and then click "Next". 3. On the Select Financial Program screen, select "Other program that supports Tax Exchange Format (TXF)". 4. Proceed through the rest of the importing wizard screens. |
|
| Q: | How to load .txf file into TurboTax? |
| A: | Please follow the steps below: |
|
1. Find the "stocks, employer stocks, other" category using TurboTax and choose "step-by-step" guide.
2. Choose "stock (excluding employee stock)". 3. Choose "import my investment sale information". 4. Choose "other program (TXF file)" on the top panel. 5. Choose "continue". 6. Choose "browse to find file". Use the dialog to locate your TXF file and choose "open". 7. Choose "import now".
The step-by-step instructions are also available in PDF format with screen snapshots captured for every step.
Click here to download the instructions.
|
|
| Q: | How to download stock trades from my broker's website? |
| A: | Our website provides detailed instructions for downloading stock trades from online brokers. Go to the Brokers section and choose your broker on the left panel to see the detailed instructions. |
| Q: | I don't see my broker on your list. What can I do? |
| A: |
TXF Express provides two simple solutions.
The first solution is to use the Comma Delimited (CSV Customized Conversion) feature available in TXF Creator
(learn more).
The second solution is to use the Generic Format feature available in both TXF Creator or TXF Online.
TXF Express supports two generic stock trade formats Generic Format 1 (Transaction History)
and Generic Format 2 (Realized Gain/Loss).
You can first convert your trade data to one of the two generic data formats and then generate the TXF file.
Go to the Brokers section and choose a generic format that better suits your need.
You can also send your data file to support@txf-express.com.
Please describe how you have obtained your data file from your broker's website.
We will enhance our product to support your broker. In addition we will send
you a FREE COPY of TXF Creator 2.0 Standard Edition
within three business days.
|
| Q: | Why do I get an error that states "Application error! Please upload a properly formatted file" when using TXF Online? |
| A: | This means that the file you uploaded is not in the correct format. Please follow the broker-specific instructions to download your data file from your broker's site and the resubmit the file. Make sure that you choose your broker correctly when being prompted by TXF Online. |
| Q: | Does my trade data file contain personal information? |
| A: |
The trade data file you upload to our website when you are using TXF Online normally does not
contain personal information such as name, address, social security number, tax payer
identification number, account number etc.
Please note there is one exception: the
ScheduleD data file from Interactive Brokers contains your name and social security number.
For your protection, please remove those information before using TXF Online.
TXF Express does not collect or store any personal information. When you are using TXF Online,
your trade data file is only being processed to generate the TXF file and will not be stored on our server.
Please read our Privacy Notice.
|
| Q: | Do your products work on Mac? |
| A: | Yes, as long as you have installed Java 6 on your Mac. You can try out our demo to see whether it works on your Mac. If not, please refer to http://www.txf-express.com/faq/Java_Virtual_Machine_Launcher-Could_not_find_the_main_class.pdf for step-by-step instructions on installing Java. |
| Q: | Why do I get an error that states "Java Virtual Machine Launcher - Could not find the main class. Program will exit." when launching TXF Creator? |
| A: | This is because the Java environment on your computer is not properly set up. Please click here to download the step-by-step instructions in PDF to solve the problem. |
| Q: | You have a "Combine Daily Trades" option in TXF Creator and iScheduleD Portfolio Manager. What does it do? Should I choose it? |
| A: | The "Combine daily trades" option allows the trades on the same stock that are executed on the same day to be combined. For example, If you have two transactions on the same day while one transaction bought 300 shares and another transaction bough 500 X shares, when you choose "Combine Daily Trades", these two transactions will be combined to one single transaction that says "bought 800 shares" at the average cost. Tax preparation software such as TurboTax has restriction on how many trades can be imported from a TXF (Tax Exchange Format) file. This option can be used to reduce the number of trades so as not to hit the limit of the tax preparation software. |
| Q: | I used some data as a trial run in iScheduleD Portfolio Manager. Now I want to delete the portfolio. I did so but the next time I opened the software with the same portfolio name why did the data reappear? |
| A: | The delete is only a soft delete. If you want to remove the physical portfolio, you can got to your iScheduleD home directory and delete the portfolio under the "/work" directory. |
| Q: | Do I have to pay an annual subscription fee to your products? |
| A: | No. You only pay a one-time fee to use our products. However sometimes brokers might change their data format so you might have to purchase a updated version of our products. |
| Q: | I purchased your TXF Creator last year. It used to work fine. But why doesn't it work for the files I downloaded from my broker this year? |
| A: | Your broker may have changed their trade data format. You will need to get an updated version of our products. |
| Q: | Do you send your a CD of your product or is it a software download? |
| A: | It is a software download. We do not send physical CDs. |