TradeLog Blog

Using TradeLog only once a year, at or near the tax filing deadline is not the most efficient use of our software. We strongly recommend that you use TradeLog at least weekly or monthly throughout the year.

Keeping a journal or trade log is as big a hassle as doing taxes. But it is one of the most important and productive disciplines a trader can adhere to. It not only helps you accurately report taxes but also improves your trading.

When it comes to taxes, the IRS serves as judge, jury and executioner. Ignorance is an unacceptable excuse. Trader tax rules are notoriously confusing for do-it-yourselfers and pros alike, causing people to overpay or get penalized for misreporting gains and losses.

Doing taxes is a royal pain in the butt for anyone let alone active traders. The headaches arise from Form 1099-B, which brokerages use to report your trades to both you and the Internal Revenue Service.

Armen Computing Ltd. has released a major security update to it's TradeLog Trade and tax Accounting software program. Version 14.5 now utilizes encrypted data files for storing users brokerage account trade history and tax information.

Very few of the 2014 1099-Bs will reconcile with TradeLog due to the different ways brokers are interpreting what should be reported, and what should not be reported. There is simply no standardization from one broker to the next.