User Guide


First Year Using MTM

If this is the first year that you will use MTM accounting for this account:
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 tax year, these will need to be entered into TradeLog and adjusted for MTM accounting changes:
  • After setting up the account you will need to enter all baseline positions held open from the previous tax year.
    All baseline positions will be entered with the actual date and original cost basis (price paid).
  • When finished entering baseline positions TradeLog will attempt to look up the year end fair market value for each position. A dialog box will appear asking you to confirm the fair market values found.
  • TradeLog will make two entries for each of these closing prices, one to close the position with the date of 12/31 of last year and another to open the position on 01/01 of the current tax year.
    NOTE: This entry of the actual price paid and the year end closing price for each open position is necessary for TradeLog to calculate your IRS section 481 adjustment.
  • Once all of your open positions are entered and priced you may proceed with importing your trade history.