Exporting to different file types

I am using Turbo Tax and the only file format it will accept is a TXF file for importing, which is a Tax Exchange Format file. Is it possible for you to create/allow for exporting file type options from Manager in the future?

Being a Turbo Tax user myself, I can tell you that while this idea seems appealing, the tax software is looking for specific data in specific and ever-changing formats tied to dictates of the IRS. In fact, Intuit developed the TXF format specifically to support preparation of U. S. federal returns, although it documents it openly so financial firms can format reports for their customers.

Depending on what documentation you believe, Intuit can apparently manage imports only from QuickBooks in Windows environments (not their online products and not Macs), and even this requires considerable setup on the QuickBooks side. I’ve found conflicting information, but the suggestions are that some of their business products won’t even handle imports of TXF files. (I can’t test this, because I don’t have any.)

Regardless, the effort would hardly be worth it, as the company data you input to do your Schedule C includes about three numbers on the income side and perhaps a dozen expense categories. (Of course, it helps to have set up your Manager chart of accounts to match the tax forms.)

Having tried the Turbo Tax import feature for W-2’s and several forms in the 1099 group, I can tell you it’s faster to type the data in yourself than jump through the Turbo Tax hoops. I’d rather do this once a year and know the numbers are correct than go through the setup hassle to identify every parameter in Manager to the right tax line, only to have to change it next year. Reports also abound that TXF importation is frequently riddled with errors and misinterpretations.

I’m sure there will be forum members who strongly disagree with my perspectives, but I would not anticipate Manager development including a TXF export capability, because it would require constant maintenance applicable to only a small sector of users.