8. File your taxes

 
E - Filing your taxes
 
- Please click here for detailed instructions on how to use the TaxAct CSV Export for e-filing your taxes.
 
- Please click here for detailed instructions on how to use the TXF file import for e-filing your taxes
 
Note:  Tax programs like TurboTax® and TaxCut® were never designed for the needs of active traders and may or may not work properly with a large volume of trades or with wash sales on trades of unequal shares.
 
Printing and mailing your IRS tax forms
 
  1. Print the Gains & Losses or IRS Schedule D-1 report.
     
     
    You are now ready to copy the report data to your IRS Schedule D.
     
  2. On the IRS Schedule D, write "Trading - See attached for detail" on Part I, Line 1.
     
  3. Copy the short-term totals for columns (d), (e) and (f) on your short-term Gains and Losses report to the IRS Schedule D - Part I, columns (d), (e) and (f).
     
     
  4. On the IRS Schedule D, write 'Tradeing - See attached for detail" on Part II, Line 8.
     
  5. Copy the long-term totals for columns (d), (e) and (f) on your long-term Gains and Losses report to the IRS Schedule D - Part II, columns (d), (e) and (f).
     
  6. Attach the Gains and Losses report that you printed to your Schedule D for filing.
You are now ready to work on your data file for the following tax year. Click File, Open to navigate to and open the next tax year data file that was automatically created during the End Tax Year process. You may begin importing your trades from February 1 of the next tax year onward.
 
For a summary of the different trading instruments available and what IRS form is required for filing your gains and losses for each instrument type, please see our online Tax Topic: Forms for filing your taxes from trading.
   
Please see Importing Your Gains and Losses report into TurboTax for more details.
 
Congratulations, you have finished the 8 steps of the TradeLog Quick Start Guide. Remember, there is a lot more to TradeLog than just filing your taxes!