To solve this problem, I downloaded all the Quicken transactions into Excel (I'm nothing if not persistent) and after about a day's work I found all the errors and manually corrected them in Quicken. There seem to be random phantom entries that need to be removed. Nor do they add up to the correct total for the year. However as the previous poster noted, the transactions in Quicken do not match up. I was able to download my stock transactions from Interactive Brokers to Quicken rather easily. Once again, being the naive person I can be, I got out my credit card, and paid an additional $89.95 for Quicken Premiere.
#Where is the tools menu in quicken software
The software recommended I purchase Quicken-this way I could download my transactions from my broker to Quicken to TurboTax. If anything the Premiere edition data entry screen was more time consuming and difficult to enter to.
#Where is the tools menu in quicken upgrade
I got out my credit card and paid them an extra $50 for the upgrade on the spot. While in the software, TurboTax recommended that I upgrade to the Premiere edition to make entering these transactions easier. Since I'm an active trader, I have hundreds of transactions. While using TurboTax to enter my tax data, I got to the part where I'm supposed to enter my stock transactions. It has turned into a huge frustration and I want to warn others before they go down the same path. This year I too have purchased Turbo Tax to do my taxes. I could not find a good help in Quicken that could help me. I manually entered those short postions that I traded in say December 2004 as short sale orders and then I changed the "buy" transaction on 1/21/05 to "buy to cover" transaction and I could match these two orders together but that placeholder is still there and I can not delete it. It shows that I bought those options (shares) at zero dollar and puts a place holder for that position on 1/3/05. I entered all my trades for Jan 2005 and I had a couple of short Calls and Puts that expired on 1/21/05. My broker is IB and I have no problem downloading them into quicken but I can not match the trades. Second question: I just started to enter my trades into quicken.
Now my questions are:Īre there any software that is commonly used by traders to keep track of their trades for ease of entering them into tax form?
It seems that I have problem doing that and I need help. I used to enter my orders manually in a spread sheet for my tax but this year I decided to use Quicken so that it will be easier to download it into Turbotax.
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