H&R Block Turns to ASP to Handle Schedule D
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Think online tax preparation and complicated tax returns don't mix? H&R Block and financial services ASP GainsKeeper today announced a partnership designed to lay those concerns to rest.
The tax-preparation giant, that reports it served 19.2 million taxpayers last year, and the Quincy-Mass.-based GainsKeeper say the partnership is designed to help bridge the gap between completing complex Schedule D and filing taxes online.
Schedule D, according the the companies, is the most complicated portion of the Federal tax return due to accounting issues associated with investments. Corporate actions such as stock splits and mergers and wash sales, an IRS rule that defers losses when a security is repurchased within 30 days require adjustments to the original cost basis of securities. GainsKeeper is designed to automate those adjustments, calculate and characterize capital gains and create the Schedule D for printing or exporting.
"There is a distinct difference between simply offering an online tax solution and addressing the most difficult tasks facing tax filers," said Duncan Routh, CEO of GainsKeeper. "The relationship with GainsKeeper further illustrates H&R Block's commitment to solving the most difficult issues for its customers."
"H&R Block is committed to providing the optimum experience for our online clients, including those with complicated tax returns," said Aaron Horvath, director of online products. "GainsKeeper enables us to provide seamless completion of Schedule D for clients who are both taxpayers and investors."
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