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MTM in Prior Year

 
If you used MTM accounting in the prior tax year:
If you have no baseline positions carried over from the previous tax year, then you can proceed with importing trade history.
If you had baseline positions carried over from the previous year, these will need to be entered into TradeLog and adjusted for MTM accounting changes:
 
  • After setting up the account you will need to manually enter all baseline positions held open from the previous tax year.
     
    All baseline positions will be entered with an opening date of 01/01/20XX (January 1st of the tax year you are preparing). The price for each position should be the Fair Market Value of the shares as of the close of trading on December 31st of the previous tax year.
     
    Note: if you are unsure of the Fair Market Value price, TradeLog will later lookup and confirm the prices. You can enter a estimated value initially.
     
     
  • Once all of your open positions are entered you may proceed with importing your trade history.