Importing Data from Quicken

In Quicken you must first export regular and capital gains tax information into a Tax Interchange File (.txf) format and then import it into TaxCut.

Note: Capital gains transactions must be entered in an Investment account and can only be exported from an Investment account. An investment account is one type of account that you can create in Quicken. See the Quicken Help for details on creating an investment account. 

To import data using the Interview:

1. On the Federal tab follow the instructions that TaxCut displays until you get to the Import Financial Information screen.

2. Select Quicken and then click Next.

3. On the Quicken Import screen read the information, and then click Next.

4. On the Export Tax Data from Quicken screen, follow the instructions for exporting your tax data from Quicken, and then click Next.

Note: Make sure you create a Tax Schedule Report, NOT a Tax Summary Report.

5. On the Import from Quicken screen, click Import. TaxCut displays the Open: TaxCut 2006 dialog box.

6. Select the tax data file you created and click Choose. If the file you want to import is in a different folder, navigate to that folder and select it. TaxCut automatically imports your tax data.

7. On the Export Capital Gains from Quicken screen, follow the instructions for exporting your capital gains information, and then click Next.

8. On the Import Capital Gains from Quicken screen, click Import. TaxCut displays the Open: TaxCut 2006 dialog box.

9. Select the capital gains file you created and click Choose. If the file you want to import is in a different folder, navigate to that folder and select it. TaxCut automatically imports your capital gains information.

To import data using the File menu:

Note: Make sure you export your Quicken tax data and capital gains data into the Tax Exchange File (TXF) format before attempting to import data into TaxCut.

1. From the File menu, choose Import Financial Information. TaxCut displays the Import dialog box.

2. Select Tax Exchange File Format (TXF) and click Continue.

3. In the Open: TaxCut 2006 dialog box, select the file you want to import, and then click Choose. If the file you want to import is in a different folder, navigate to that folder and select it. TaxCut automatically displays the Import Report. You can change the imported information at this time.

4. Repeat steps 1 and 2 for your capital gains data file.

As you go through the Interview, TaxCut displays the data that you imported as green text. Change anything you need to at that time. You can also view and change the imported information any time by selecting Review Imported from the Reports menu to display the Import Report.