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What Every Trader Needs to Know About Taxes


There are many misconceptions that exist about tax reporting for traders and investors. Here are the top two myths, and the facts you need to know…

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Tags: Trader Taxes, 1099-B, Wash Sales, Form 8949

Enhanced Section 1256 Contract Support in TradeLog


Do you trade futures or index options? If so, then you need to know about newly enhanced support for these instruments in TradeLog software. With the release of TradeLog version 9.3 traders and investors can not only identify section 1256 contracts but also generate accurate tax reporting at year-end.

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Tags: Section 1256, Trader Taxes

Looking Ahead: Filing 2012 Taxes for Traders and Investors


As a new year approaches you may be wondering what’s in store for 2012 tax filing. Here is some early information to help you plan and prepare.

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Tags: Trader Taxes

Importing Trade History from Online Brokers is the Key to Accurate Tax Reporting


An article in last week’s Investopedia.com explained some of the broad differences in brokerage houses. One aspect many investors and traders give no thought to when choosing a broker is the necessary tax reporting. The 2011 tax year revealed disturbing problems as some brokers simply could not provide accurate 1099-B reports for many clients!

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Tags: Trader Taxes

IRA Wash Sales Can Have Severe Consequences


Yes! You read that correctly: Wash sales in an IRA can have severe consequences! This often-overlooked part of the IRS wash sale rules must not be ignored by active traders and investors.

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Tags: Trader Taxes, Wash Sales

It's the Season: for Watching Wash Sales


Wash sales can happen all year long, but wash sales that occur in December and January are the ones to watch. Why? Because wash sales that happen in December and January can potentially increase your taxable capital gains for the year! In this post we’ll review what a wash sale is and their potential negative effect. Plus, we'll illustrate how to use TradeLog to monitor wash sale effects on your trades.

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Tags: Trader Taxes, Wash Sales

IRS News: Tax Time Tips


The IRS has published some top tax tips to make tax time easier on you. Even though your return is not due until April, you can get an early start now! Here are some of the Internal Revenue Service’s top tips that may be helpful for you:

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Tags: Trader Taxes

Important Tax Dates for 2012


We have put together a list of important dates that affect many active traders and investors for tax reporting. Most traders have a little extra time for filing this year, so check out what deadlines affect you!

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Tags: Trader Taxes

TradeLog Tip: Be an Educated Trader


Why this tip? Trader tax issues are some of the most complex. In fact, many CPAs will admit they do not fully understand the wash sale rule, trader status, and other nuances. It is important that you understand enough about what is required by the IRS, and how to meet those requirements so that you can file accurate taxes and avoid mistakes that could cost you! Here are some suggestions for staying educated…

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Tags: TradeLog Tips, Trader Taxes

Everyday Tax Savings for All Year Long


Traders and Investors: Your daily expenses and activities may be earning you valuable tax breaks. From child care and retirement savings to medical expenses and hobbies, you have many opportunities to save thousands on your federal taxes. Our partners at TaxACT® provide nine valuable tax savings tips we've summarized for you below!

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Tags: Trader Taxes