.TXF File Extension
Tax Exchange Format
| Developer | Intuit |
| Popularity |
1.9 | 13 Votes |
A TXF file contains tax data in a standard text-based format developed by Intuit that allows users to transfer financial information between various tax preparation and financial programs. It stores multiple sections ("Data Records") containing tax information, such as a user's personal information, income, expenses, and deductions. TXF files also include a "Header Record" that stores information about the version of the TXF specification, the program that created the file, and the date the file was created.
More Information
Intuit established the Tax Exchange Format (TXF) in the early 1990s, providing specifications and updates for the TXF standard. The purpose of the format is to ensure that users can seamlessly transfer their financial information across different platforms to streamline the tax filing process.
For example, an accountant may export financial data as a TXF file from a personal finance application like Intuit Quicken or Microsoft Money and then import it into a tax preparation program, such as TurboTax or H&R Block. This process allows the accountant to quickly transfer the tax information instead of manually re-entering the financial information in the tax preparation program.
While the TXF standard was common in the 1990s and early 2000s, its usage has declined due to more modern data exchange methods, including the .OFX format and direct API integrations between financial institutions and tax software. However, users may still transfer tax data via the TXF standard, mainly when exporting tax reports from older financial software.
How to open a TXF file
You can open TXF files with various financial and tax-related applications, such as Intuit TurboTax (only the desktop version), Intuit Quicken, and H&R Block Tax Software. For example, you can open a TXF file with the TurboTax by selecting .
Opening a TXF file with a text editor
Since TXF files are saved in plain text, you can also open them with a text editor, such as Microsoft Notepad (Windows) or Apple TextEdit (Mac). You may need to rename the .txf file extension to .txt for the text editor to recognize it.
When opened in a text editor or source code editor, you can modify the information in the TXF file. However, if you incorrectly edit the file, you may not be able to import it into a tax preparation program.