If you actively trade stocks, options, mutual funds, or single-stock futures and have ever tried to report these on an IRS Schedule D, then you know how painful this can be - It is an absolute nightmare!
FACT #1: Most static broker provided profit and loss statements are not accurate and are not to be trusted for capital gains tax purposes. This is usually due to incomplete cost basis records for positions held open at the end of the previous tax year, or mismatches due to stocks splits, mergers, and name changes.
FACT #2: Popular tax software programs like TurboTax© do not import and match trades properly for reporting on schedule d, and do not calculate wash sales.
See Trader Tax Misconceptions for details.
FACT #3: Most other software solutions do not calculate wash sales between short and long trades, and between "substantially identical securities" such as stocks and options as required by the IRS.
See our Dare To Compare page for details.TradeLog™ tax lot accounting software ends the nightmare...

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Getting The Most Out of TradeLogLearn how to get the most out of your TradeLog software all year long, and not just for taxes! This webinar will review some key features of using TradeLog that many users forget about. It will also demonstrate how to use TradeLog analysis tools and reports to help you become a more informed trader! Space is limited, register now! Title: Getting The Most Out of TradeLog Reserve your Webinar seat now at: Note: To listen to the audio of this webinar you will need to call-in to a phone conference system. Long distance phone charges may apply depending on your telephone service and location. |
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