Our clearing firm, Apex, offers consolidated 1099 OFX data that can be imported into Turbo Tax.
It is important to note that since Kapitall changed clearing firms during 2014, the information available through this import process will only account for activity after our conversion on September 8, 2014. If your trading activity triggered a taxable event prior to September 2014, you should have received a separate tax document in the mail from our previous clearing firm, which does not provide consolidated 1099 data that can be imported into Turbo Tax.
Follow the Turbo Tax on-screen instructions using the information below as guidance:
- Choose Apex Clearing Corp as the financial institution from which you would like to import your Consolidated 1099 data.
- When prompted to sign in, your Apex User ID is:
10-[Your Apex Account Number]
For example, if your account number was 123456789 your Apex User ID would be 10-123456789
- Your password is the Taxpayer ID number associated with the account (in most cases, this is your Social Security Number)
On a very limited basis, you may come across some data limitations while using Turbo Tax. For example, the maximum dollar value of transactions that can be imported into Turbo Tax is $9,999,999.99. Another common limitation is when there are more than 500 1099-B transactions per return. In this case you'll need to use the desktop version of Turbo Tax, which can accommodate up to 2,200 1099-B transactions. If you experience issues with this import process, you should contact support at Turbo Tax or import this information manually from your year-end tax document online.