TradeLog takes the headache out of calculating capital gains and wash sales.
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!
- Are you tired of trying to match hundreds or thousands of trade transactions by hand?
- Have you struggled when calculating your short term capital gains and losses?
- Are you frustrated with the IRS wash sale rule?
- Is it simply taking too much of your valuable time to fill out an IRS Schedule D to file your taxes from trading?
- Have you elected the Mark to Market accounting method, or are you thinking about doing this in the future?
WARNING - Your broker may not be telling you the whole truth!
Most brokers fail to disclose the fact that it is dangerous to file your taxes without tax lot software specifically designed for the needs of active traders and investors; and doing so may result in filing your taxes in error.
Here are 3 little known facts that may surprise you:
1. Most broker provided profit and loss statements are not accurate due to cost basis and other data errors, and therefore cannot be used for filing your taxes.
2. Popular tax software programs like TurboTax© do not match trades properly for reporting on schedule d, and do not automatically calculate wash sales, when importing directly from your online broker.
3. Most other trader tax software solutions do not calculate wash sales between short and long trades, nor between "substantially identical securities" such as stocks and options as required by the IRS.
TradeLog tax lot accounting software ends the nightmare...
- TradeLog imports your trade history from over 35 different online brokers.
- Handles an unlimited number of trading accounts which can be combined at year end for tax purposes.
- Accurately calculates capital gains and wash sale adjustments across all combined accounts.
- Prepares an IRS Schedule D-1 in minutes, not days.
- Makes any and all necessary adjustments for next tax year.
- Analyzes your trades to help you become a better trader.
- TradeLog MTM™ version for mark to market accounting.
Don't just take our word for it - Please read what one of our users recently had to say:
I just wanted to say how much Tradelog has made my life easier. In 2004 I was audited by the IRS because I didn't provide enough detail on my Schedule D to satisfy the IRS. My own trading log (I created with Excel) did not account for wash sales and if I made any data entry errors, my Excel records wouldn't match what Schwab sent the IRS on a 1099 form.
When I got the audit papers, I was really in trouble....I couldn't give them what they wanted. After a couple of days of trying to get the info from my trading log, I decided to Goggle "wash sales" and I found your website. Within a couple of hours, I had ordered Tradelog.
The reason was your TUTORIAL!!! It sold me! It explained, it detail, how I could use Tradelog to get the trade data from Schwab and satisfy the IRS. What a simple solution to my problem. I can't stress to you enough how much your tutorial convinced me that Tradelog was my solution; there were other websites offering their products, but I had to look no further.
I have told the several other traders that I know about Tradelog. You guys are the best!
B. Huestis
We have been getting reports that some of our website content has been copied word for word by competitive web sites.
Some have even gone so far as to include the very same functions and exact report layouts as our TradeLog software.
While we agree with the old adage:
"imitation is the best form of flattery,"
we wish to put all on notice that
we take copyright infringement very seriously!