For users who have more than 1,000 lines on the Schedule D and are unable to import gain/loss data into TaxACT® an alternate method of filing is to enter totals from the Form 8949 into TaxACT®, then you can either print and mail your filing with the TradeLog generated Form 8949; or you can e-file through TaxACT® and mail the Form 8949 documentation along with form 8453 (generated by TaxACT®).

 

Follow the steps below to enter your TradeLog generated gain/loss totals into TaxACT® Online Deluxe version:

 

1. Generate and print the Form 8949 in TradeLog.

 

2. Click on the following link: Login to TaxACT®

 

You will then need to either login to your existing account, or sign-up for a new account.

 

NOTE: if you have not yet created a TaxACT® account, you will be asked a few questions and steps to setup your account.

 

3. From the Q&A main menu, select the Federal Q&A tab. Expand the Investment Income menu option, then select Gain or loss on the sale of  investments, then select Enter totals from a statement of transactions you will attach to your return.

 

 

4. Check the box to elect to attach a statement of Schedule D transaction. Then enter the totals from your TradeLog generated Form 8949 or Gains & Losses report in the respective boxes, then click Continue.

 

 

5. Click on +Add to add a Form 8949 statement.

 

 

6. From this point, follow the instructions in TaxACT® for entering totals. These totals can be found on the Instruction Sheet generated by TradeLog with your Form 8949. Note - as of the writing of these instructions, TaxACT® has not updated their software to allow you to enter the total from Column G (adjustments to gain/loss). Therefore you will need to determine the best way to enter your totals for accurate filing. TradeLog is not responsible for the e-file results of TaxACT®.

 

When you have completed your entire return you will have two options:

 

    (1) If you chose to print and mail your return, simply attach the Form 8949 or Gains & Losses report from TradeLog and mail with your return.

 

    (2) If you chose to E-File your return, TaxACT will generate form 8453. Attach your Form 8949 or Gains & Losses report from TradeLog to form 8453 and mail this in - this is support documentation for the IRS.