It's time for 2021 tax filing. What will you need for accurate trader tax reporting? We'll answer that and give you some key days to mark on your calendar. Let's get ready to make tax time easier!
Taxes can be more challenging for traders and active investors. To do it right you need:
TradeLog subscription – TradeLog will update by January 21 to unlock final 2021 tax reports, this update is included free for active annual subscriptions.
Don’t have a TradeLog subscription? Click here to view purchase options
Your trade history for all of 2021 and January of 2022 - TradeLog uses the trade history for calculating taxable gains/losses along with all required wash sale adjustments (based on taxpayer rules)
December 2021 Brokerage Statement for each account - you'll use this to verify your trade history for accuracy in TradeLog
Broker 1099-B statement for each taxable account - this will also be used for reconciliation with TradeLog
|January 18, 2022||Due date for 2021 fourth quarter estimated tax payments|
|January 21, 2022||TradeLog update available with 2021 tax forms|
|January 24, 2022||IRS begins accepting and processing 2021 returns|
|January 30, 2022||Last day of the wash sale window for applicable traders using cash basis accounting. Trades on or before this day could potentially trigger a wash sale from 2021 depending on your circumstances. Learn More|
|February 15, 2022||Brokers to furnish 1099-B statements to recipients|
|March 15, 2022||Due date for 1099-B statements reported by trustees and middlemen of WHFITs|
|March 15, 2022||Partnerships (Form 1065) and S Corps. (Form 1120S): File 2021 returns, or for an extension Election for Sec. 475f Trader Status (mark-to-market) must be filed for Partnerships and S Corps. if electing for the 2022 tax year||April 18, 2022||Individuals (Form 1040), Estates & Trusts (Form 1041), and Corporations (Form 1120): File 2021 returns, or for an extension Residents of MA and ME have till April 19 due to Patriots' Day holiday. Election for Sec. 475f Trader Status (mark-to-market) must be filed for Individuals, if electing for the 2022 tax year|
|September 15, 2022||Partnerships (Form 1065) and S Corps. (Form 1120S)|
|September 30, 2022||Estates & Trusts (Form 1041)|
|October 17, 2022||Individuals (Form 1040) and Corporations (Form 1120)|
The TradeLog Support Team is ready to help you use TradeLog for your trader taxes. Check out our Support Center to review our guides and documentation, or to request support.
If you need professional help, such as a TradeLog Service Provider, contact them now, not later, to schedule your needs - before they get booked up.
TIP: Many active traders elect to file an extension for more time. Why file an extension? Trader taxes are some of the most complex reports. Brokers sometimes make 1099-B amendments. And if more comprehensive TradeLog support is needed it's easier to get after the April tax deadline. Some CPAs and tax professionals even give a discount if you file an extension! Of course, you'll need to estimate your taxes for your extension filing. You can use TradeLog for estimating by running draft reporting. Talk with your tax professional about your situation and options for filing an extension.
Please note: This information is provided only as a general guide and is not to be taken as official IRS instructions. Cogenta Computing, Inc. does not make investment recommendations nor provide financial, tax or legal advice. You are solely responsible for your investment and tax reporting decisions. Please consult your tax advisor or accountant to discuss your specific situation.