Manage Your Trade History
Your accurate trade accounting starts with a complete trade history. No more sifting through statements and papers, no more spreadsheets. With TradeLog, keep ALL your trade history, for ALL your broker accounts, in ONE tax year file.
- Records stocks, bonds, mutual funds, options, ETFs, futures, and Forex.
- Import from over 40 online brokers. See if your broker is supported.
- Set up any number of brokerage accounts in one tax year file.
- Track all types of accounts - cash basis, IRA and MTM. (Futures and Forex limited to supported brokers.)
IRS Ready Tax Reporting
Broker 1099-B reports follow IRS rules for broker reporting - but taxpayers have different reporting requirements. TradeLog uses actual trade history to generate the IRS ready reporting active traders and investors need for tax filing.
- Create Form 8949 for IRS Schedule D.
- Export reporting for use with TaxACT®, TurboTax® and other tax software.
- Reconcile with your 1099-B and make necessary adjustments for accurate reporting.
Wash Sale Reporting
Popular tax programs were never designed to handle the complexities of the IRS wash sale rules. TradeLog was created specifically for active traders and investors to handle complex wash sale rules for taxpayers, which is quite different than the wash sale rules for brokerages.
- Wash sales identified and adjusted for stocks, options, and short sales.
- Identifies wash sales between accounts.
- IRA wash sales properly identified and disallowed.
- Tracks wash sale deferrals from one year to the next so you never lose your losses.
Avoid Wash Sale Disasters
While wash sales are typically unavoidable for active traders, some wash sale situations may have disastrous tax consequences – such as IRA wash sales which are permanently disallowed. TradeLog can be used all year long to help you avoid wash sale disasters. The Potential Wash Sales Report provides the information you need to understand your wash sale situations and make necessary trading decisions.
- Use TradeLog regularly to monitor wash sale situations affecting you.
- Know which open positions carry large wash sale deferrals.
- Be alert to new acquisitions that may trigger new wash sales.
- Take action quickly when an always harmful IRA wash sale was triggered.
Mark to Market Accounting
Traders who have elected section 475(f) status with the IRS and traders in futures and other section 1256 contracts are required to use mark to market accounting for some or all of their trading. TradeLog provides the tools and reporting needed for active traders.
- Automates year end mark to market adjustments.
- Reporting for IRS Form 4797 for section 475(f) traders.
- Section 481 reporting for mark to market election.
- Automatic identification of section 1256 contracts - futures and broad based index options.
*Note: Mark to Market accounting features are available only in the TradeLog (unlimited record) version.
Comprehensive Editing Functions
Complicated tax adjustments are often needed for corporate actions and other trading events. TradeLog provides a suite of comprehensive editing functions.
- Options: Expirations, exercises and assignments.
- Corporate actions: Stock splits, cost basis adjustments, and ticker changes.
- Matching: Specific lot matching. Long/short conversions.
Trade Journal / Performance Analysis
Profitable trading involves information and analysis to understand trends, strategies, and performance. TradeLog provides powerful trade journaling and performance analysis tools to help you become a better trader.
- Keep comprehensive notes on what and why you traded.
- Measure key performance metrics on your winning and losing trades.
- Visualize your profitability with various charts and reports.
- Assign strategies to individual or groups of trade and monitor results.
- Customizable filters allow you to drill down deep into your trade history.
All of the features, plus the technical support to back it up. TradeLog provides the most extensive technical support of any trader tax software.
- Eight step quick start guide for easier tax reporting.
- Detailed instructions at your fingertips.
- Online resources for software use and trader tax instruction, including video tutorials and webinars.
- Regular updates for broker support and tax compliance.
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