I do day-trading with ETrade and last year I had over 800 trades. I am aware that TurboTax 2005 allows auto-importing data directly from ETrade. The problem is this: It only imports the SELL information and not both the BUY & SELL info. So I would still need to manually enter half of the information for those 800+ transactions.
ETrade does allow one to download directly from ETrade both the BUY & SELL info but the file is in Excel (.XLS) format. I am aware that TurboTax 2005 does not import .XLS files. I also know that Quicken 2006 does not import Excel (.XLS) format either.
So, I thought about getting Quicken 2006 and using an "freeware" utility (XL2QIF) which converts .XLS files to .QIF format. As far as I understand, I can import a .QIF file into TurboTax 2005.
Will this then solve my problem and allow me to get all of the transactions into Turbotax 2005? Or am I missing something?
If anyone has a better idea or comments, please respond!