This tutorial will guide you step by step through the process of exporting your Excel transactions to a file which can then be easily imported into TurboTax, TaxCut, or just about any other tax software. I think you'll find that this program is straightforward and easy to use. But, if you run into any problems, or have any questions, send me an email.
Step 1: Open the Excel file ConvertExcel2TXF.xls. Note that you won't actually be directly using this workbook - you just need to have it open while you're working in your own Excel file where you record your capital gains transactions. This allows the main macro to be accessible from your Excel file. When the file opens you will be asked whether or not you want to enable the macros in the file. You must select 'Enable Macros' for the program to work.
If you do not get the above dialogue, or some equivalent, when opening the file, check to see that you are able to run unsigned macros from Excel. From the Excel menu, select Tools > Macro > Security… In the 'Security Level' screen make sure that 'Medium' is selected. This will cause Excel to prompt you to decide whether or not to run a particular macro. [Note: If you are completely uneasy about running an unsigned macro from your computer, here's another option: After sending your payment, send me an email with your spreadsheet attached (obviously you'll want to remove any sensitive or personal information - account names & numbers, etc). I'll run the conversion for you and then send you the resulting TXF file.]
Step 2: Open your Excel file that contains your capital gains transactions.
Step 3: You may need to add a few columns to your worksheet before proceeding. You need to ensure that you at least have the following required columns, which correspond to the required entries on tax form Schedule D. The order of the columns is not important, and any additional columns are not a problem.
Step 4: Within your Excel file, select Tools > Macro > Macros… In the list of macros select the name "ConvertExcel2TXF.xls!Run" and then click "Run".
A dialogue will then open prompting you to select the beginning and ending rows, as well as the columns for each of the required fields. For the beginning and ending rows, you only need to select one cell anywhere in the row. For the data columns, you only need to select one cell anywhere in the appropriate column. To enable the selection mode just click the small square in the right side of the input box that you are trying to fill. [Note: If your quantity and description are already combined into a single column, just leave the "Quantity Column" box blank.]
Step 5: When all of the required input boxes have been filled, click on the "Generate TXF File" button. You will then be prompted with a standard Windows "Save As" dialogue to select a name and location for your tax file. A suggested filename is given, but you are free to change it as long as you keep the .txf extension.
Step 6: Now just follow your tax software's instructions to import the TXF file from the saved location that you chose in the previous step. After the import is complete, you should then do a quick spot check of a few transactions just to make sure everything looks right. And that’s it! You're all done!