TradeLog Software Features & Benefits
TradeLog is powerful tax software designed especially for active traders and investors.
IRS Ready Tax Reporting
Broker 1099-B reports follow IRS rules for broker reporting - but taxpayers have different reporting requirements. TradeLog uses actual trade history to generate the IRS ready reporting active traders and investors need for tax filing.
- Create Form 8949 for IRS Schedule D.
- Export reporting for use with TaxACT®, TurboTax® and other tax software.
- Reconcile with your 1099-B and make necessary adjustments for accurate reporting.
Wash Sale Reporting
Popular tax programs were never designed to handle the complexities of the IRS wash sale rules. TradeLog was created specifically for active traders and investors to handle complex wash sale rules for taxpayers, which is quite different than the wash sale rules for brokerages.
- Wash sales identified and adjusted for stocks, options, and short sales.
- Identifies wash sales between accounts.
- IRA wash sales properly identified and disallowed.
- Tracks wash sale deferrals from one year to the next so you never lose your losses.
Avoid Wash Sale Disasters
While wash sales are typically unavoidable for active traders, some wash sale situations may have disastrous tax consequences – such as IRA wash sales which are permanently disallowed. TradeLog can be used all year long to help you avoid wash sale disasters. The Potential Wash Sales Report provides the information you need to understand your wash sale situations and make necessary trading decisions.
- Use TradeLog regularly to monitor wash sale situations affecting you.
- Know which open positions carry large wash sale deferrals.
- Be alert to new acquisitions that may trigger new wash sales.
- Take action quickly when an always harmful IRA wash sale was triggered.
Mark to Market Accounting (available only in the TradeLog MTM versions)
Traders who have elected section 475(f) status with the IRS and traders in futures and other section 1256 contracts are required to use mark to market accounting for some or all of their trading. TradeLog MTM provides the tools and reporting needed for active traders.
- Automates year end mark to market adjustments.
- Reporting for IRS Form 4797 for section 475(f) traders.
- Section 481 reporting for mark to market election.
- Automatic identification of section 1256 contracts - futures and broad based index options.
Manage Trade History
Accurate trade accounting starts with maintaining a complete trade history. TradeLog was designed for this main purpose: to keep a log of your trades. No more sifting through statements and paper records, no more spreadsheets. TradeLog keeps all of your trade history, for all of your broker accounts, in one tax year file.
- Record stocks, bonds, mutual funds, options, ETFs, futures, and Forex*.
- Import from over 40 online brokers.
- Setup any number of brokerage accounts in one tax year file.
- Track all types of accounts - cash basis, IRA and MTM.
* Futures and Forex limited to supported brokers.
Comprehensive Editing Functions
Complicated tax adjustments are often needed for corporate actions and other trading events. TradeLog provides a suite of comprehensive editing functions.
- Options: Expirations, exercises and assignments.
- Corporate actions: Stock splits, mergers and ticker changes.
- Matching: Specific lot matching. Long/short conversions.
Profitable trading involves information and analysis to understand trends, strategies and performance. TradeLog provides powerful performance analysis tools to help you be a better trader.
- Measure key performance metrics on all your trading and investing.
- Chart reports help visualize profitability.
- Assign strategies and monitor results.
- Customizable filters allow you to drill down deep in your trade history.
All of the features, plus the technical support to back it up. TradeLog provides the most extensive technical support of any trader tax software.
- Eight step quick start guide for easier tax reporting.
- Detailed instructions at your fingertips.
- Online resources for software use and trader tax instruction, including video tutorials and webinars.
- Regular updates for broker support and tax compliance.