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TradeLog Blog

Using the Find>Ticker Function


TradeLog contains powerful filters that are often overlooked by software users. Learning to use these filters can be practical and exciting. You can tap into virtually endless possibilities for filtering your trade history data, and then use that filtered data for analysis and reporting. In this series of TradeLog Tips we'll show you how to use the various filters. The first one we will highlight is the Find>Ticker filter function.

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Tags: TradeLog Tips

Top Reasons to Trade During Retirement


Many people assume that trading during retirement is a desirable option purely because of the financial profits. Trading during retirement allows one ample time to keep up with financial news, potential stocks to pick up and general trading topics in order to plan and execute a solid strategy, and thus make the most of your investments. If this pursuit fits your personal interests and passions, consider the following compelling reasons to continue or learn to trade during retirement.

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Tags: Active Trading

TradeLog Tip: Backup Your Data Files


It is a story our support team hears too often: “my computer crashed and I lost my TradeLog files”. We cringe when we hear this because we know the answer to our next question is often not positive: did you keep a backup of your files?

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Tags: TradeLog Tips

Tapping Into IRAs for Trading - Warnings and Strategies


More and more people have been tapping into their IRAs in order to finance trading and investment plans. There are a number of companies now promoting structures such as “Self-Directed IRA-Owned LLC” or “Custodian IRA-Owned Trusts”. While those companies may provide online education to support these structures, leading trader tax CPAs and attorneys do not always agree with their conclusions.

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Tags: Trader Taxes

Wash Sale Rules Make 1099-B Worthless for Many Traders


In a recent webinar with active traders we did a poll and 97% who responded had situations where the 1099-B may not be complete in wash sale reporting. Often this is because the trader has more than one taxable account, or an IRA account, or he trades option contracts. At the root of the problem are differing wash sale rules that the IRS has for 1099-B and for taxpayers. What are the differences and why is the 1099-B often worthless as a result?

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Tags: Trader Taxes, Wash Sales, 1099-B

IRS 1099-B Reporting is Bad Accounting Information


A vital principle in financial accounting is the importance of verifiable and objective reporting. A major problem with the 1099-B is that it fails to provide verifiable reporting. The 1099-B provides subjective information with limited details. For this reason the 1099-B if often useless to active traders and their CPAs. Why do we say the 1099-B is not verifiable?

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Tags: Trader Taxes, 1099-B

Special Report – The 1099-B Problem


Armen Computing, the makers of TradeLog Software, has published a special report entitled The 1099-B Problem: Why IRS Regulations Have Failed to Meet Cost Basis Reporting Needs. The 25-page report is available as a free e-book download. Why did we publish this report? What is the purpose? To appreciate the answers to those questions let me provide some background about cost basis reporting and the 1099-B.

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Tags: 1099-B, Trader Taxes

TradeLog Tip: Filing Taxes With Popular Tax Software


Many TradeLog users would like to file their taxes with popular programs like TaxACT® or TurboTax®. Of course you likely know that those programs, on their own, often cannot handle Form 8949 reporting for active traders. That is why you use TradeLog! But how do you e-file with TaxACT® or TurboTax® and use your TradeLog generated Form 8949?

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Tags: TradeLog Tips, Trader Taxes

TradeLog Tip: Important Functions for Option Traders


Traders of option contracts sometimes overlook adjustments that need to be made for accurate tax reporting. TradeLog can make these adjustments easier with a few important functions. Here are three tips for option traders:

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Tags: TradeLog Tips, Options

TradeLog Tip: Brokerconnect Importing Problems


Each year during tax time the TradeLog support team sees reports of greater difficulty using brokerconnect for importing trade history from certain brokers. Oftentimes the problems are a result of heavy traffic on the broker’s servers or the size of the data download. Because of these reasons there may not be much that can be done to resolve the problem, other than to try again later. But here is a tip that may help you if you experience brokerconnect difficulty…

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Tags: TradeLog Tips