Tax interface
Rob Matteson
Can someone answer a simple question simply? Does Moneydance interface with what I believe is the most common tax software? Am I correct in assuming that TurboTax is the most common? Do they talk? Do they talk easily?
I guess I would ask why not if the answer is that they do not.
2 Posted by james f on 05 Jun, 2012 12:11 PM
The short answer is "no".
TurboTax is proprietory softaware developed by Intuit. The file format to import data into TurboTax is also proprietory to Intuit.
You can run reports that you can print out and then use to manually enter data into TurboTax. You can even save those reports in a file format that any spreadsheet program can read.
If any other PFM software development company claims to export data that is usable by TurboTax, then that company is paying Intuit a royalty fee for that capability.
3 Posted by -Kevin N. on 05 Jun, 2012 12:36 PM
Hi Rob,
Look to this thread on the matter.
http://help.infinitekind.com/discussions/switching-to-moneydance-fr...
HTH -Kevin N.
Support Staff 4 Posted by Angie Rauscher on 05 Jun, 2012 05:09 PM
Rob,
Kevin's advice is excellent (and the referenced thread is as well), and James is correct that you can run reports to manually enter data into Turbo Tax or other tax programs such as H&R Block at Home. I've successfully used the TXF exporter extension to transfer data into my tax program (I use the H&R Block product- we're not affiliated with them I just like how they work). I also have a relatively simple set of finances, and don't itemize my deductions, so YMMV based on these factors. And we are aware that this extension needs help, and it's been bumped up the list.
BUT, when doing my own taxes, I found that (largely because I am a slightly neurotic control freak) I prefer to run reports in Moneydance and enter data into my tax program manually. I then print these reports to PDF and save them with a PDF of my completed return- this way they are organized and ready to go if I ever need them in the future for an audit or other reason. This work-flow has really improved the quality of my record-keeping.
I'm sorry I don't have an more immediate and elegant solution for you, but please let me know if I can be of further assistance,
Angie Rauscher
Moneydance Support
5 Posted by Rebarto on 05 Jun, 2012 06:15 PM
Actually everyone's answers were good and helpful. I have not delved into the thread about the interface yet.
Nor have I delved into your software yet. I am looking forward to learning and using the trial so I may determine if I will use and therefore purchase the software.
I hope it and the mobile (iPhone) and BoA all integrate well. If they do, I'll be SOLD!!!
Best Regards,
Rob Matteson