What's New in TradeLog™ Ver 7

Most of the new features in version 7 relate to expanded Reporting capability, especially when it comes to tax reporting.  There currently is no other trader tax software that comes even close.

Feature: Benefit:
Exercise/Assign function

New in ver 7.2007.09.08 is an Exercise/Assign edit function that allows you to exercise an option and make all the necessary adjustments to the assigned stock position.

Please see our Option Exercises and Stock Assignments tax topic for a detailed explanation of the IRS rules for options that get exercised.
Grid Filter dialog

Also new in ver 7.2007.09.08 is a popup dialog window which allows you to combine many different find commands in one concise dialog.

 
Support for Microsoft Windows Regional Settings

New in ver 7.2007.08.15 - Users who reside in locations other than the US can now use their current Windows regional and language settings with no need to change to the English (United States) settings.
IRS Ready
Schedule D-1

click here
for sample

We now offer a facsimile of the IRS Schedule D-1.
(It creates about twice as many pages as our current G&L report, but many of you asked for it)

For the past 6 years the IRS has accepted our TradeLog Gains & Losses report as a suitable substitute schedule d-1 attachment. This report is still available for those high volume traders who require a minimum of report pages.
TXF File Export
(for TurboTax,
TaxCut, etc)

New TXF File Export allows you to import your TradeLog wash sale adjusted gains and losses into popular tax software with no errors so users may e-file rather than mail in their returns.

This new report option will break up loss trades so that each loss trade on schedule d has an equal number of shares as the wash sale adjustment.

  • This will create many more pages than our standard Gains & Losses report, but is required to get around the deficiencies of most popular tax software.
  • Please be aware, however, that high volume traders still may not be able to import into these programs due to the inability of some tax software to handle total sales amounts greater than $10M. Please check with your tax software to find out what their total sales amount limitation is.
1099 Reconciliation Report

All you need to do is enter your Gross Sales Proceeds from your broker provided 1099, and TradeLog does the reconciliation for you all in one concise report.

 
Report Column Totals Panel

All your report totals for short-term and long-term gains or losses in one easy to read summary panel.

  • Quickly see all of your totals including total wash sales deferred to next year and your actual gain or loss without wash sale adjustments.
  • A Sales-Cost (Sales minus Cost) column lets you know that the totals at the bottom of the report subtract out (cross check) alerting you to any potential inaccuracies in your data.

 
Wash Sale Detail Report Get a complete picture of all of your wash sale loss deferrals.
  • Instantly know which stocks or options are causing a wash sale loss to be disallowed for the current tax year and are therefore being deferred to a future tax year.
  • More importantly know which stocks or options have the largest wash sale deferral. This is most important in December so you can make year end decisions so as to minimize these losses by either closing the position before year end, and/or refraining from repurchasing in January within the 30 day window.
  • Get a complete picture of each and every wash sale adjustment for each stock or option that has deferred wash sale losses including the open position that triggered the loss.
  • Always know where your losses are going and why.

 

 
Report Page and Printer Setup Expanded setup options including:
  • Margins and Font Sizes
  • Initial Report Preview window size
  • Name on Reports
  • Social Security Number or EIN - can be selectively turned on or off from displaying in report at run time.

 
Descriptive Report Headers and Footers Always know what your report is all about - what data file is being reported on, what data is included, and when it was run.
  • User entered Taxpayer Name and Social Security Number or EIN (can be turned on/off).
  • Filter that was applied before the report was run.
  • Footer reports on which TradeLog ver was used for this report.