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Robert M.
Robert M., Consultant
Category: Financial Software
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Experience:  30 yrs. of computer experience in financial and marketing departments.
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Im told that TurboTax cant handle option transactions properly.

Customer Question

I'm told that TurboTax can't handle option transactions properly. Is there some other (perhaps professional software package..seen Intuit's ProSeries) that will work that hopefully has a guided aspect to it like TurboTax?
Submitted: 8 months ago.
Category: Financial Software
Expert:  Robert M. replied 8 months ago.

Hi, I'm Robert and I'll be helping you with your financial software question.

 

Are you talking about Quicken or turbo tax.

 

Quicken should be able to handle it. There do seem to be a few issues with options for example if you just let them expire rather than selling them it may not delete them automatically.

 

they have a premiere edition that has special features specifically for investing and that is one of the things they have been improving in the last few years.

 

http://quicken.intuit.com/personal-finance-software/premier-investment-management.jsp

 

There really is nothing else out there that does everything that quicken does.

 

This online program is supposed to be very good for investing but it does not have quickens ability to work with bank accounts or budgets etc. It is strictly for investing but might do a better job on some of the more intricate ones.

 

https://www.wikinvest.com/account/portfolio/regx/start

Robert M., Consultant
Satisfied Customers: 7105
Experience: 30 yrs. of computer experience in financial and marketing departments.
Robert M. and other Financial Software Specialists are ready to help you
Customer: replied 8 months ago.


What about all the complaints about Quicken 2014 (& 2013) I see on Amazon? I am working in 2012 still because of that... I will go & check out the wikinvest, but what about the advertisement I've seen re: Intuit's ProSeries?

Expert:  Robert M. replied 8 months ago.

You would need to show me the exact thing that you are talking about. Intuits pro series is for quickbooks rather than quicken. That is business software rather than home finance and it does not have all of quickens investment tools. Instead it has things like general ledger and invoicing.

 

Most of the issues I have heard about with quicken 2013 or 2014 have to do with the ability to work through the cloud and share data on a tablet or ipad which was added in 2013 and still has a few kinks to work out.

Customer: replied 8 months ago.


Just to clarify I'm using Quicken 2012, & I want to import my data into TurboTax for next year. Also having been introduced to TradeMonster for the ease of their platform via Options Animal, I unfortunately see TM is not a regular that they import into. TM is where I have my account & transaction history. Do you see this as a problem???

Expert:  Robert M. replied 8 months ago.
that might be an issue as far as instant transfer to turbo tax goes. But at the end of the day all you need to put into it are the yearly totals. I don't see an extra half hour of manual work as being a good enough reason to switch investment tracking software that you like using and will be using for the entire year.
Customer: replied 8 months ago.


excellent thought. I just downloaded Quicken 2014 Home & business as a comparison chart showed that I would have the investment ability also. Unfortunately It crashes x 2 as it tries to convert my 2012 files. I have just found a manual update file which I'm getting ready to try, although the about Quicken tells me the download is already R2. If this doesn't work, I'll call quicken support tomorrow. We'll keep our fingers crossed. Have a great night.

Customer: replied 8 months ago.


bonus sent; top rating indicated.

Expert:  Robert M. replied 8 months ago.

that might be one of the bugs the 2014 is on about. Usually it will convert the old file.

if you still have the 2010 running you can do

file / file operations / validate

 

that will make sure the file is error free and help insure a better transfer

 

Yes I got the rating and the bonus and I appreciate that. Thank you very much

Expert:  Robert M. replied 8 months ago.
I was just following up on our work. Thank you very much for the rating. If you have further issues with this same problem you can post in the original problem and i will give you more help for free. If you would like to go to this page and add it to your favorates you can then use it to send me a question directly

http://www.justanswer.com/electronics/expert-robmark/

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