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I track all of my trades in Excel, and create a text file that I rename to a .TXF extension in order to import all of my stock and option trades into Schedule D of "H&R Block At Home". However, this year I have a couple dozen VIX option spreads (they aren't treated as regular options, they're considered Section 1256 contracts) that I would like to avoid entering by hand, especially since I already have them in Excel.

Is there a format similar to TXF that I can use in order to import these trades into Form 6781?

Thanks in advance for any suggestions.


as always, i am full of carp
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Is there a format similar to TXF that I can use in order to import these trades into Form 6781?

Have you tried Block's software support?

Phil
Rule Your Retirement Home Fool
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Is there a format similar to TXF that I can use in order to import these trades into Form 6781?

What I do is print out an Excel summary of the option trades (one line per trade, showing mark-to-market gain/loss), label as "Attachment x - Index Options; Section 1256 - Supporting Details", and as one entry in the 6781 point to that attachment in the Description box and put the total gain/loss shown at the bottom of the Excel summary.

This approach (both for this and my summaries of stock trades) leads me to file on paper, so I can attach a printout of the Excel attachments to my paper return. (FYI: Although it probably doesn't matter, I don't use H&RB, but Turbo Tax.)

I offer this not so much as advice, but more to see if someone thinks this could cause me problems.
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Is there a format similar to TXF that I can use in order to import these trades into Form 6781?

What I do is print out an Excel summary of the option trades (one line per trade, showing mark-to-market gain/loss), label as "Attachment x - Index Options; Section 1256 - Supporting Details", and as one entry in the 6781 point to that attachment in the Description box and put the total gain/loss shown at the bottom of the Excel summary.

This approach (both for this and my summaries of stock trades) leads me to file on paper, so I can attach a printout of the Excel attachments to my paper return. (FYI: Although it probably doesn't matter, I don't use H&RB, but Turbo Tax.)

I offer this not so much as advice, but more to see if someone thinks this could cause me problems.

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No, there should be no problems at all. But there are at least a couple of approaches by which you could still e-file:

1. Enter the single-line summary, referencing the schedule printed out, just as you have done. And then e-file the return, and send the printout to IRS on paper with a Form 8453 transmittal. If your software doesn't produce Form 8453, get it from IRS.gov

If your software does permit, you could:
2. Import the Excel data directly into the capital gain/loss input worksheet.

3. Attach the printout as a PDF file to the e-filed data file transmitted.

Bill
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1. Enter the single-line summary, referencing the schedule printed out, just as you have done. And then e-file the return, and send the printout to IRS on paper with a Form 8453 transmittal.

Do you know from experience that this works with other than what the form prescribes? I recall we used to use it as an all-purpose method of e-filing when attachments were required, but it seems a few years ago they clamped down and only allow it with certain attachments.

Phil
Rule Your Retirement Home Fool
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Bill,

When I filled out the 6781, it only required a summary, and made no request for more detail. I filed last night, and it was accepted that way, without a Form 8543. I guess I'll wait and see if there's a request for followup details.

Thanks again for the advice,

as always, i am full of carp
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By the way, last year I had to print out all of my options trades and mail them in separately. This year, the e-filing was accepted as is.

as always, i am full of carp
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1. Enter the single-line summary, referencing the schedule printed out, just as you have done. And then e-file the return, and send the printout to IRS on paper with a Form 8453 transmittal.
=========================
Do you know from experience that this works with other than what the form prescribes? I recall we used to use it as an all-purpose method of e-filing when attachments were required, but it seems a few years ago they clamped down and only allow it with certain attachments.

Phil
Rule Your Retirement Home Fool

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Here's the actual form.
http://www.irs.gov/pub/irs-pdf/f8453.pdf

I guess you're right, and I had forgotten the OP was working on Form 6781, not 8949. Sorry.

We have used all the methods I mentioned on completing (or substituting for) Form 8949, which is the first thing I thought of.

So never mind - unless one of the other methods works for you.

Bill
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I'm not sure where Form 8453 would be relevant to those particular transactions that I asked about. And Form 8949 is automatically generated by H&RB-AH from when I imported my regular stock and options trades. However, there was no request for that transaction-level of detail with 6781 ... it merely requested the summary/total of the trades, broken out by "account" ... which I took to mean that I only needed one line for my TDAmeritrade account, which is where all of the transactions were made.

Could "account" mean something different, implying the need for individual transaction details?

Sorry to maybe be beating a dead horse on this, especially since I already e-filed everything. But now I'm curious as to whether or not I did it correctly, and whether I should expect a followup query.

as always, i am full of carp
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