Yes. AI can automate capital gains data entry in OLT Pro. SmartWiz's assistant, Wizzy, reads the client's brokerage statement or 1099-B, enters the transaction data into the return inside OLT Pro, and the preparer verifies the totals against the source document before completing the return. The video below shows a full capital gains return done this way.
Brokerage statements are the single most tedious document in a tax office. A client with an active account can show up with a 1099-B running dozens of pages and hundreds of transactions, each with dates, proceeds, basis, and holding periods. Keying them is slow, and slow keying of long number columns is exactly where human error creeps in. This is the document category where automated entry pays for itself fastest.
How SmartWiz works
Upload a client's documents into SmartWiz however you have them: one combined PDF or a stack of separate files (PDFs, photos, scans, Excel, or CSV). SmartWiz also takes your intake forms and client organizers, plus data from your favorite intake tools like Jotform, Cognito Forms, and GoHighLevel. Wizzy reads every page, splits a combined PDF into individual documents while keeping the original together, and sorts and renames each one by taxpayer, form type, issuer, and tax year. It reads source documents like W-2s, 1099s, and K-1s, as well as Schedule C and Schedule E intake forms, and builds a client profile you review and edit before export. Before export, Wizzy flags things you may want to fix, like a W-2 address that differs from the driver's license, so you pick the right one. For returning clients whose info is carried forward, Wizzy never overwrites existing data—it only adds the new information. Then One-Click Return exports it into OLT Pro in about 3–5 minutes, where you review side by side and file.
How a capital gains return runs in OLT Pro with Wizzy
- Get the client's consolidated 1099 or 1099-B as a PDF or scan. Clear copies read best.
- Wizzy processes the statement and builds the client profile, typically about 3–5 minutes depending on size.
- Open the return in OLT Pro and run One-Click Return. Wizzy enters the transaction data into the return.
- Review side by side. Verify the proceeds and basis totals against the statement, and check anything Wizzy flagged.
- Finish and file in OLT Pro yourself. Wizzy does not e-file.
FAQ
Can it handle long statements with hundreds of transactions?
Yes, and the longer the statement, the more time automation saves. You verify totals against the source rather than keying line by line.
What about wash sales and adjustments?
Wizzy enters what the statement reports, including reported adjustments. Judgment calls about treatment remain the preparer's, with everything visible in the side-by-side review.
Does it work with statements from any broker?
Standard consolidated 1099s and 1099-Bs in readable form work. If a statement is unusual or partially illegible, Wizzy flags what it could not confidently read.
Does this also cover the rest of the return?
Yes. Capital gains enter alongside the client's other documents: W-2s, 1099s, K-1s, Schedule B interest and dividends, all in the same run.
Is client data safe?
Yes. SmartWiz is audited to SOC 2 Type I, data is encrypted in transit and at rest, and SmartWiz does not train AI models on client data. Details at smartwiz.ai/security.
Does processing use a credit every time?
One credit unlocks a client. Re-running that client is free, and adding a forgotten document does not use another credit. Only a separate tax year uses another credit.
See it on a real brokerage statement: book a demo at smartwiz.ai/demo.