How do I export a file in .TXF format to be used with H&R Block tax software

pickpro

I followed the instructions and created the report. After selecting the export icon, I try to save it as a .XTF file but it only it gives me the following options: .xlsx .txt and .pdf. According to the help documentation I should be able to export it to a .XTF file but there dose not appear to be a way to do that.

Jim_Harman

For tax estimates I have started using the Tax Planner in Quicken, which has been improved and updated this year.

pickpro

I followed the instructions and created the report. After selecting the export icon, I try to save it as an .XTF file but it only it gives me the following options: .xlsx .txt and .pdf. According to the help documentation I should be able to export it to a .XTF file but there dose not appear to be a way to do that.

Tom Young

Are you referring to a .TXF file?  In that case select "Report to tax export file."

Ps56k2

Why do you want to do this -
and where or what will you do with the exported file ?

pickpro

I am using H&R block tax software and I want to be able to import the data from Quicken in the form of a (standard) .txf file..

pickpro

Tom, pardon my typo, yes I am talking about an .TXF file. If you read my initial comment, I am not being given the option to Report to tax export file. Please read my initial comment.

Jim_Harman

Reports > Tax > Tax Schedule
--Check that the data is correct --
Click on the Export icon at the top (sheet of paper with a green arrow)
Pick Report to tax export file

Repeat with Reports > Tax > Capital Gains

or, go to File > File Export and initiate the exports from there, but then you don't get a chance to review the data.

[Someone edited the title of your post to TXF) 

Ps56k2

Guessing this scenario..... using QW 2020 DLX R23.17 -

From Quicken: Reports -> Tax -> Tax Schedule -> Export -> Report to tax export file.
That will create a .TXF file, and the rest you need to get from H&R on how to import it.

EDIT -- I also updated the topic title to better reflect the actual Q&A

Tom Young

So you're selecting a tax file:

and after generating the report you click on Export:

and the 3rd option isn't listed?

J_Mike

In QWin - from the menu bar;

File > File Export > Export TurboTax Tax Schedule Report
and/or
File > File Export > Export TurboTax Capital Gains Report

These are the txf files for import into TTax or other compatible tax software.

pickpro

I want to thank all of you for your responses. I believe I have it now.
Many thanks.

jl747

You can also do it this way on Quicken Deluxe.

On the tool bar click on Planning - go to Turbotax - then pick which file you want to export Tax Schedule or Cap Gains.
If I am not mistaken doing it this way the file you export right now will show data for 2018 not 2019.

The only way for you to get this years numbers is to set your computer clock any date after Jan 1, 2020. Just remember where you saved the file.

Now you can import into H&R Block per their software instructions.

Just another option.

Jim_Harman

FWIW I do not export Quicken data to TurboTax because I want to reconcile it with the 1099s and W2s I receive and because there is important tax information that Quicken does not collect.

For example Quicken does not distinguish between ordinary and qualified dividends, does not handle foreign taxes paid, etc. Much of this data is only available on the 1099 forms and not throughout the year. 

jl747

@Jim_Harman
I do export it to a draft or test file for a guesstimate. I also wait for the 1099's and any other tax documents. This early in the tax season not all forms are ready any way.
Turbotax and H&R Block all will show Draft, plus IRS has not even set a date to when they will start to accept the1040's.

pickpro

Thanks Jim. My goal is to do a preliminary return before the end of the year in order do see what I might have to adjust.

Jim_Harman

For tax estimates I have started using the Tax Planner in Quicken, which has been improved and updated this year.

Ps56k2

I also updated my methods for Quicken handling income.. like paycheck, etc.

Normally, I would just see the net amount being deposited, but then, after being mentioned in another thread, I ran across the PAYCHECK form of a Reminder. 

So now, I enter ALL the info from my paystub so that the taxes are now correctly reflected in the Quicken Tax Planner. 

I even went back thru all the checks and re-entered them via the Paycheck template so the withholding and other taxes matched the paystub YTD.

Rocket J Squirrel

Jim_Harman said:

FWIW I do not export Quicken data to TurboTax because I want to reconcile it with the 1099s and W2s I receive and because there is important tax information that Quicken does not collect.

For example Quicken does not distinguish between ordinary and qualified dividends, does not handle foreign taxes paid, etc. Much of this data is only available on the 1099 forms and not throughout the year. 

I agree 100%. For me, at least, there are 2 things which have, in the past, been worthy of import from Quicken: charitable contributions and state & local taxes. Nothing else is really accurate enough to be usable.

I only hope one day those things will be fully deductible again, so I continue to track them and import them to TT.