Send Transaction or Form Item Data

After setting up your Account Owners and Accounts, the next critical step in integrating with our API involves deciding how to provide your data to generate tax information. Based on discussions during your kickoff call, your organization will have chosen between sending raw transaction data or aggregate form item data.

• Raw Transaction Data: To submit raw transaction data, you will provide detailed records of each transaction line by line. Each transaction is associated with a respective account. This data is sent in our Transaction Data Model (TDM) format and includes information such as dates, TaxBit defined transaction types (e.g., buy, sell, trade), amounts, fees, and assets. Raw transaction data is a requirement if your organization plans to retrieve detailed inventory or gains information. Sending raw transaction data also allows TaxBit to determine eligibility and reporting populations with more granular detail.
• Aggregate Form Item Data: Organizations focused on year-end tax form preparation can send aggregate data that TaxBit will use to stamp onto forms. This option simplifies the process by providing summary data but does not support accessing detailed inventory or gains information. Form Item data is associated with a respective account.

Steps to Send Transaction Data

1. Get familiar with the TaxBit Transaction Data Model (TDM): Ensure you're familiar with our Transaction Data Model (TDM) before sending us transaction data. If you have questions or need further clarification on how to transform your data to fit the model’s specifications, your implementation manager can provide necessary guidance. The "Transaction Types" sheet from your kickoff call will also be a helpful reference.
2. Initiate a POST Request: To send transaction data, initiate a POST request to our transaction endpoint. This method is used for both submitting new transactions and updating previously sent transactions. For more information on what is required in the request, visit the Transactions documentation.

Batch Processing: For those looking to send transactions in batches, consider using our in-dashboard file uploader. It supports CSV and JSONL formats, facilitating efficient bulk data ingestion. For more details on this tool, please consult your implementation manager.

Steps to Send Form Item Data

1. Initiate a POST Request: When sending form item data, you’ll start with a POST request to our form items endpoint. This endpoint is specifically for submitting data related to individual form items for Accounts. For more information on what is required in the request, visit the Form Items documentation.

Note on User ID: Currently, this submission requires a “user-id,” which should be understood as the Account ID. We’re working on making our terminology consistent across endpoints to streamline the process.