totallyfinished
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I've read on here multiple times about the hardship some people have when doing their taxes. I had the same problem and this year I had a lot of trades that I had to account for, across 3 different brokers. This can be a real headache when you are trying to fill out your schedule D with the correct information and all the correct wash sales, etc.
So after a week of trying to correctly do the wash sale rule thing, I gave up and finally searched for an easier way of doing it. I believe I found it. Most people pay some sort of subscription for charting or other stock software, why not for easy tracking of it as well.
Just for the record, I have no affiation with this company, I just like it and wanted to share it with all my friends on here. Please if this thread violates any of the TOS, just delete it. (You (T2W admins) may even be able to get some advertising from them. I think it would be a great addition to the T2W site, imo.
I'm not linking to the website, but the software is called TRADEMAX and is from a company called Neutral Trend Ltd.
From their website:
* Designed for active traders to calculate their capital gain
TradeMax® 2010, designed for active trader for its great capacity to support unlimited number of trades, also breezes normal traders with its function to auto-generate Schedule D. It exports Schedule D form with larger than 3000 transactions which TurboTax 2009 can’t.
* Support individual account view and combined account view
Neutral Trend TradeMax® 2010 has a powerful importing module which supports most broker and data file. You also can setup different accounts to set the data file from different brokers and people to calculate your capital gains, combining different accounts into a new view is also supported.
* Support various reports (Enhanced!)
As your transactions are imported, profit and loss of each trade is automatically calculated for the entire year. Neutral Trend TradeMax®2010 provides user with a powerful filter function to filter your trade dada.
It also allows user to add more than 10 reports: Schedule D-1(Form 1040), G/L Report, Trade Detail, WashSales Detail Report, Summary Report, Realized Gain/Loss Transaction Report, Unrealized Gain/Loss Transaction Report, Cost Basis Transaction Report, 1099 Reconciliation report, Mark to Market(Form 4797) report.
* Handle most wash sales easily (Enhanced!)
Apart from capital gains calculation, Neutral Trend TradeMax® 2010 calculates several Wash Sale scenarios, include but are not limited to, Wash Sale between identical securities (stocks and options), Wash Sales on an unequal number of securities and Wash Sale on Same Day Rule. User also can monitor specific investment, calculate Wash Sales and defer loss between different accounts by combining different accounts. Neutral Trend TradeMax® 2010 generates Wash Sale Reports according to the wash sale rules defined by users.
* Export Schedule D Report and other Reports to ease tax filling
Neutral Trend TradeMax® 2010 allows user to generate capital gains/losses report for Schedule D(Form 1040) purpose or export *.txf file to popular tax software such as TaxCut, TurboTax.
* Record Corporate Events to track your trade history (New!)
TradeMax? 2010 processes corporate events that affect cost basis or Capital Gains Tax for the Schedule D(Form 1040) and keep track of cost basis adjustments due to corporate actions like splits, spin-offs, and mergers. By using this feature, investors can view all of their transactions that have occurred in this particular symbol such as Return of capital, Reinvested Income and Dividend paid on Short Sales which provide you with the facility to conduct transactions more accurately and adjust your trade for tax purpose by maintaining the trade history.
* Auto-Convert Foreign stock trade( Non-USD) to USD Currency (New!)
As the transaction may be traded in foreign currency such as CAD,AUD,JPY, etc, TradeMax® 2010 auto-converts Non-USD transactions and foreign account into USD trade or account according to the forex rates you downloaded from the internet. Downloading a specific period of the Forex Rates between USD VS other currency helps you make better investment.
* Support Types (Enhanced!)
Stock, Stock option, Stock Future, Section 1256 Option, Section 1256 Future, Commodities, Fund, Currency
__________________
Don't argue with an idiot; people watching may not be able to tell the difference.
So after a week of trying to correctly do the wash sale rule thing, I gave up and finally searched for an easier way of doing it. I believe I found it. Most people pay some sort of subscription for charting or other stock software, why not for easy tracking of it as well.
Just for the record, I have no affiation with this company, I just like it and wanted to share it with all my friends on here. Please if this thread violates any of the TOS, just delete it. (You (T2W admins) may even be able to get some advertising from them. I think it would be a great addition to the T2W site, imo.
I'm not linking to the website, but the software is called TRADEMAX and is from a company called Neutral Trend Ltd.
From their website:
* Designed for active traders to calculate their capital gain
TradeMax® 2010, designed for active trader for its great capacity to support unlimited number of trades, also breezes normal traders with its function to auto-generate Schedule D. It exports Schedule D form with larger than 3000 transactions which TurboTax 2009 can’t.
* Support individual account view and combined account view
Neutral Trend TradeMax® 2010 has a powerful importing module which supports most broker and data file. You also can setup different accounts to set the data file from different brokers and people to calculate your capital gains, combining different accounts into a new view is also supported.
* Support various reports (Enhanced!)
As your transactions are imported, profit and loss of each trade is automatically calculated for the entire year. Neutral Trend TradeMax®2010 provides user with a powerful filter function to filter your trade dada.
It also allows user to add more than 10 reports: Schedule D-1(Form 1040), G/L Report, Trade Detail, WashSales Detail Report, Summary Report, Realized Gain/Loss Transaction Report, Unrealized Gain/Loss Transaction Report, Cost Basis Transaction Report, 1099 Reconciliation report, Mark to Market(Form 4797) report.
* Handle most wash sales easily (Enhanced!)
Apart from capital gains calculation, Neutral Trend TradeMax® 2010 calculates several Wash Sale scenarios, include but are not limited to, Wash Sale between identical securities (stocks and options), Wash Sales on an unequal number of securities and Wash Sale on Same Day Rule. User also can monitor specific investment, calculate Wash Sales and defer loss between different accounts by combining different accounts. Neutral Trend TradeMax® 2010 generates Wash Sale Reports according to the wash sale rules defined by users.
* Export Schedule D Report and other Reports to ease tax filling
Neutral Trend TradeMax® 2010 allows user to generate capital gains/losses report for Schedule D(Form 1040) purpose or export *.txf file to popular tax software such as TaxCut, TurboTax.
* Record Corporate Events to track your trade history (New!)
TradeMax? 2010 processes corporate events that affect cost basis or Capital Gains Tax for the Schedule D(Form 1040) and keep track of cost basis adjustments due to corporate actions like splits, spin-offs, and mergers. By using this feature, investors can view all of their transactions that have occurred in this particular symbol such as Return of capital, Reinvested Income and Dividend paid on Short Sales which provide you with the facility to conduct transactions more accurately and adjust your trade for tax purpose by maintaining the trade history.
* Auto-Convert Foreign stock trade( Non-USD) to USD Currency (New!)
As the transaction may be traded in foreign currency such as CAD,AUD,JPY, etc, TradeMax® 2010 auto-converts Non-USD transactions and foreign account into USD trade or account according to the forex rates you downloaded from the internet. Downloading a specific period of the Forex Rates between USD VS other currency helps you make better investment.
* Support Types (Enhanced!)
Stock, Stock option, Stock Future, Section 1256 Option, Section 1256 Future, Commodities, Fund, Currency
__________________
Don't argue with an idiot; people watching may not be able to tell the difference.
