Hi All,
I have been using Turbo Tax, but decided to try TaxCut this year. For Schedule D, I always use the .txf file generated from the broker and upload it from the software.
In TurboTax, it always imports the full complete description and the amounts of its transaction including cents (it shows up as two lines in the Schedule D).
However, in TaxCut, it seems to truncate the description and round off each buy/sell entry to the nearest dollar (doesn't allow to enter cents even manually). Some of the description becomes unintelligible and the resulting schedule D total is off from the actual total by a few dollars because of rounding.
Basically, my questions are:
1. Is this really the limitation of TaxCut compared to TurboTax or is there a way around it?
2. Assuming this is the limitation, wouldn't this pose a problem as the grand totals is technically not accurate and off ?
3. For a description, because of the limited length, can you just put the stock symbol (without the company name), for example, 1000 MSFT
Thanks !!!
Wetz
I have been using Turbo Tax, but decided to try TaxCut this year. For Schedule D, I always use the .txf file generated from the broker and upload it from the software.
In TurboTax, it always imports the full complete description and the amounts of its transaction including cents (it shows up as two lines in the Schedule D).
However, in TaxCut, it seems to truncate the description and round off each buy/sell entry to the nearest dollar (doesn't allow to enter cents even manually). Some of the description becomes unintelligible and the resulting schedule D total is off from the actual total by a few dollars because of rounding.
Basically, my questions are:
1. Is this really the limitation of TaxCut compared to TurboTax or is there a way around it?
2. Assuming this is the limitation, wouldn't this pose a problem as the grand totals is technically not accurate and off ?
3. For a description, because of the limited length, can you just put the stock symbol (without the company name), for example, 1000 MSFT
Thanks !!!
Wetz