Importing data from financial software packages such as Quicken or Microsoft Money saves time if tax categories have been accurately assigned to spending and income categories.
TurboTax imports and transfers data from:
- Quicken 2007-2009. To import data from Quicken 2006 or earlier to TurboTax, you must create a .TXF file.
- QuickBooks 2007 or higher versions, but only for TurboTax Windows Desktop tax software (not TurboTax Online or TurboTax for Mac).
- ItsDeductible Online imports to desktop software and online versions of TurboTax Deluxe, Premier, and Home & Business, for both Windows and Mac).
- TurboTax,TaxCut and TaxACT tax year 2008 tax returns.
- W-2, 1098 and 1099 data from most financial institutions and employers.
- Any software that exports .TXF files, like Microsoft Money.
How to Import Quicken Data into TurboTax
TaxCut imports and transfers data from:
- TaxCut and TurboTax prior year returns.
- Quicken (but Quicken 2008 Rev. 9 requires some extra steps to import data into TaxCut).
- Microsoft Money 2003-2007, Money Plus (Money 2006 requires an TaxCut update before importing to TaxCut)
- TaxCut Deduction Pro
- TaxCut does not download and import 1099 and 1098 data from financial institutions or 2008 W-2 data from employers. This is an important consideration if you have many stock transactions to enter, or if you have multiple W-2s for tax year 2008.
