2. Enter Baseline Positions
Manually enter positions carried over from previous tax years:
PLEASE DO NOT SKIP THIS IMPORTANT STEP!
If you held positions open from the previous tax year that carried through to the tax year you are working on, and you are using TradeLog for the first time, you must manually enter each open position into TradeLog prior to importing your trades for the current tax year.
The purpose of this step is for TradeLog to properly calculate your Profit & Loss when you close positions held open from previous tax years. Doing this after importing your current years trade data will cause trades to be mismatched and result in errors. This only needs to be done once for each brokerage account. Every year thereafter, the software will automatically copy your year-end open positions to your next tax year data file.
Note: Please make absolutely sure that you have accounted for all open positions by reviewing your December statement of the prior tax year. Two sections of the statement need to be examined: (1) Holdings as of December 31; and (2) Trades Pending Settlement. TradeLog records transactions based on trade date as required by the IRS. If there are trades in the prior tax year that are pending settlement, you must account for these in your baseline positions.
Select an option below to proceed with step-by-step instructions:
