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How to Import 1099-B into TurboTax Using TXF Files

March 20, 2026

If you have more than a handful of stock trades, manually entering each transaction into TurboTax is a nightmare. The TXF (Tax Exchange Format) file solves this by letting you import everything at once.

What Is a TXF File?

TXF is a standardized format that tax software can read directly. It contains all the data from your 1099-B — date acquired, date sold, proceeds, cost basis, and gain/loss — structured so TurboTax, H&R Block, and TaxAct can auto-fill Form 8949 and Schedule D.

Why TurboTax's Built-In Import Fails

TurboTax offers a "auto-import" feature that connects to your broker. In theory, it pulls your 1099-B data automatically. In practice:

  • It crashes with 100+ transactions. The import times out or freezes entirely.
  • Schwab and Fidelity imports fail regularly. "We couldn't retrieve your tax info" is a common error during peak tax season.
  • Wash sales get lost. The auto-import sometimes drops wash sale adjustments, leading to incorrect cost basis reporting.
  • You can't verify the data. It imports into TurboTax directly with no way to review before filing.

How to Import a TXF File into TurboTax

  1. Get your TXF file. Upload your 1099-B PDF to 1099-B Converter and download the TXF format.
  2. Open TurboTax Desktop (Premier or higher — TXF import is not available in TurboTax Online).
  3. Go to File > Import > From TXF File.
  4. Select your downloaded .txf file.
  5. TurboTax will populate Form 8949 with all your transactions.
  6. Review the imported data against your original 1099-B to confirm accuracy.

Important Notes

  • TXF import only works in TurboTax Desktop, not the online version.
  • Make sure you're using Premier or Self-Employed edition — the Deluxe edition doesn't support investment income.
  • Each TXF record is tagged as either short-term (code 321) or long-term (code 323), matching Schedule D categories.

What About H&R Block and TaxAct?

Both H&R Block Desktop and TaxAct also support TXF imports. The process is similar — look for an "Import" or "Upload" option in the investment income section.

The Bottom Line

If you're dealing with more than 10-20 transactions, TXF import saves hours. Upload your 1099-B PDF, download the TXF file, and let your tax software do the data entry.