Can you accept schedule D transactions?

Posted by Caitlin on February 10th, 2009

The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.

Q: Can Turbo Tax or H&R Block accept electronically the Schedule D transactions for capital gains or losses from Merrill Lynch accounts? If so, what is the limit on the number of transactions?

A: All of H&R Block's tax preparation packages include Schedule D, for capital gains and losses, as well as Schedule D1, for additional gains and losses. H&R Block does not limit the number of transactions. All of TurboTax's packages also include Schedule D and D1, with the exception of their free edition, which does not support these forms. TurboTax Online allows up to 500 transactions. TurboTax's desktop software, which is available via download or CD, allows unlimited transactions.

To learn more about H&R Block, TurboTax or other online tax preparation services, see our reviews and comparison chart.