Details (Note To Tax Professionals):

If you are a Tax Professional who uses Lacerte software I can help you (IRS Form 8879) e-File your Day-Trader clients (up to 10,600 trades). NO IRS Form 8453 is required. Most preparers now understand that e-Filing saves significant time, labor and money in compiling, assembling and mailing their client's returns. When you e-File Day-Traders your savings jump into the next league.

I have helped many other preparers learn this simple process (details below) which uses a formatting tool and the Lacerte Data Conductor (LDC). The “Formatter” prepares your client’s broker-downloaded Excel file for the LDC. The LDC imports the data and transfers it directly into the Client's Schedule-D. The whole process takes only a few minutes and is completely accurate. Lacerte rounds up or down to the nearest dollar as usual.

The result is you e-File your Day-Traders using Form 8879 only and using the same e-File process as the rest of your clients.

How The Process Works:

It will take you longer to read and understand these paragraphs than to actually perform the Import Process.

• The Formatter starts with your client’s broker-downloaded Excel file which (of course) contains all of the required stock-sales information in the same order as shown on the Sch-D. The Formatter manipulates each stock transaction row-by-row into the formatted style required by the LDC.
• The LDC imports the formatted file, merges the stock information with the client file and transfers the merged client file back into your Lacerte client list. When you open your client file, your stock information now shows in the Schedule-D just as if you had manually (and perfectly) entered all the data.

If this idea seems appealing to you here are the Import Instructions. Or you can choose from a couple of other options:

• You can send me your client’s broker-downloaded Excel file. I will run it through my Formatter and send you the formatted .csv file via email.
• Or if you want me to import you client data into your Lacerte file, email me your Client Lacerte file (use 999-99-9999 for SSN) and your client’s broker-downloaded Excel file. I will import for you and return your client file by email.

Either way you will save much time and money when you consider the old alternative. E-filing is BIG with the IRS and the environment and e-filing your Day-Traders is the poster-child example.