User Guide


Additional MTM Reports

Three additional reports are included in the report menu for MTM reporting:
Please note that all tax year reporting will show a DRAFT watermark until you have completed the End Tax Year process on the TradeLog file. Final tax reporting should always be generated once the End Tax Year process has been completed.
Form 4797 Attachment - for MTM Accounting
This report is used to report gains/losses from trading for MTM accounting.
Securities Marked to Market Report
This is a list of all the securities that have been priced to year end market prices. This report is required to be attached to your form 4797 when filing your MTM accounting gains and losses.
Section 481 Adjustment Report
This report is only required the first year that you file using Mark To Market accounting. The report lists all of the positions carried open from the previous cash accounting tax year, along with their corresponding year end MTM closing prices. The total from this report is the total section 481 adjustment for the first year that you used the MTM accounting method. This adjustment is to compensate for the fact that your open positions going forward into this year were priced at year end prices.
Note: The totals from the Gains & Losses report plus your total section 481 adjustment are your actual trading gain (or loss) for the year. The IRS, however, wants to see them broken down this way.