A GruntWorx Trades add-on provides an Excel sheet containing trades data extracted from an annual brokerage statement. You can import the sheet directly into your client's return using the Import function available from the main screen in data entry.

Supported Documents

GruntWorx will extract information from consolidated year-end brokerage statements containing a 1099-B and/or the Gain/Loss detail, as well as standalone 1099-B forms. All other papers, such as monthly statements, supplemental statements, and printed records from online, cannot be used for a Trades add-on.

Preparation

When gathering your tax papers together for scanning, remember these tips for optimal product return:

• Do not black out, highlight, circle, mask, or cut off account numbers, social security numbers, EINs, or payer names. This information is used to tie your brokerage statements together as a group.

• Scan your brokerage statements in consecutive order according to page number, with no break in between pages for other forms, organizers, or notes.

See GruntWorx - Scanning Documents for detailed instructions and tips.

A single GruntWorx job is limited to:

• A maximum of 10 separate PDF documents.

• Each individual PDF cannot exceed 50 MB.

• The total upload must not exceed 500 MB.

Cost

GruntWorx pricing is calculated on a per-trade or per-brokerage basis.

• See the Pricing page for details.

• Estimate your costs on the GruntWorx website.

The amount used for a Trades add-on are withdrawn from your balance only after the job has processed. If you do not have enough money for a Trades add-on, you will need to add money to your account to download the job. You are responsible for estimating the amount of money needed to process the trades add-on before you submit the job.

Trade Details

The following brokerage data are supported when trades are selected by the tax preparer:

• Quantity

• Security Description

• Purchase Date

• Sale Date

• Sale Amount

• Purchase Amount

• Gain/Loss

• Box 6 Data – Cost Basis provided/not provided to the IRS

GruntWorx returns what is provided on the brokerage statement back to you on an Excel sheet. Data that cannot be extracted from the scan (such as when the information on the scan is unreadable) is left blank on the sheet, except that an “S” or “L” will be used for a missing acquired date if a transaction can be determined as short or long term. If the covered/non-covered information cannot be determined by the system it will be left at the default non-covered on the sheet.

You can open the Trades Excel file from your client’s GruntWorx folder in Drake Documents, review it and modify it if you desire. If GruntWorx extracts a transaction incorrectly, you can correct it in the Excel sheet. Also, third party Excel sheets can be formatted for direct import into Drake Tax.

Trade Summary

GruntWorx Trade Summary extracts the Sales Price, Cost Basis and Wash Loss (if applicable) for each of the following:

• Short Term Covered

• Short Term Non-Covered

• Long Term Covered

• Long Term Non-Covered

• Short Term Other

• Long Term Other

• Undetermined

Related Links

GruntWorx - Overview