Multiple Stock Transactions

[Jiggers]

Standard Format

it takes more than an hour to enter all the data. But that's what I do. But, I also charge the client for "time" when filling out the D.
And I agree that it would be very helpful if all finance companies would come up with a standard form to use AND include cost data. I find so many companies do not include the cost data which is irksome, because they know we are going to need it.

I would also like a standard format for ESOP and ESPP reports. This one really baffles me.

Larry

They can't even have a standard format for 1099INT, 1099DIV, or W-2's!

They all have the correct information, but in all different places on the form.

[JohnH]

I think the brokerage houses have a valid business reason for producing such confusing statements with spotty information. It's a simple concept that anyone who knows how to produce a basic spreadsheet could easily develop. But if they adopted a standard format which actually contained all the relevant info, their clients would be able to see the quality of the job they are actually doing and what it's costing them. Plus the client could compare one firm's performance against another. Better to leave things ambiguous and deal with the occasional nit-picky tax preparer than to suffer the inevitable consequences of having to explain themselves to informed customers.

[joanmcq]

I think the more you pay for your trades, the more likely you are to get decent statements. Merrill Lynch, great statements, real pricey service. Scottrade, you better keep all the yearly purchase statements, because you gotta match 'em up. Cheap trades. Etrade, you gotta download the statements, but at least the info is there online if you know how to get it, know what to look for. Really cheap trades.

Another example of you get what you pay for. I hate Scottrade!

[dhawkcpa]

Software shapes your attitude on Schedule D entry.

ATX is good because you can enter down the columns in a spreadsheet manner. You have to use the down arrow as the enter key only moves to the right. Depending on your typing skills, this really speeds up entry speed. I think that this can be done too with Taxwise.

Drake can import the data from a regular spreadsheet. This should be the wave of the future since the gain & loss spreadsheets should be downloadable in a spreadsheet format from the broker.