Question
How do direct imports from brokers work?
Answer
Most brokers store historical trades on an OFX server. The purpose of this server is to hold historical data so that it can be imported into tax products. Different brokers offer different amounts of historical information to be imported from OFX servers that can vary from 3 months to your entire history. Most of the major brokers provide one year or more. If you have questions about your specific broker's OFX capabilities, please go to Help: GainsKeeper Support.
Imports do not occur from your trading account. Normally, there can be a 1-2 day lag for trade data to be available to import, so if you trade today, you may not be able to import those trades for 1-2 business days after placing the trade. Because the data is not imported directly from your account, there can occasionally be errors in the import feed. Use the initial import file to review your trades before continuing with your import. If you find a duplicate trade, you can exclude it from the import by de-selecting the checkbox next to it. You can type over information in any of the fields to enter the correct information before continuing.