User Guide


Gains & Losses Report

The Gains & Losses can be used for tax filing purposes in certain cases as well as for profit and loss analysis. As with all TradeLog reports, the Gains & Losses report can be modified by filtering the data in the Grid prior to running the report. (For example, if you use the Find, Ticker command to isolate trades for one particular ticker, the Gains & Losses report will display only that ticker.)
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.
NOTICE: The Gains & Losses report should NOT be used in place of IRS Form 8949 as it does not categorize trade records as required for Form 8949. You can use the Gains & Losses report to view your account totals and also to be able to drill down into wash sale details if needed.
Users who file IRS 1065 for Partnership Returns will use the Gains & Losses Report as a substitute Schedule D-1 for 2012 tax reporting.
  • If you are running this report for tax filing information, you should make sure you click the All Trades button, which removes any data filtering, before you run this report so all of your trades for the current tax year will be included.
  • Please note that the Gains and Losses report will ONLY include realized gains for the current tax year, unless you change the Start and End dates.
The default options on the Gains & Losses report panel as shown above, are set for generating a report that contains the same data as Form 8949 reporting including. These options are described below:
  • Wash Sales: Adjust for Wash Sales - This option is required for accurately calculating wash sales according to IRS rules.
  • Wash Sales: between Shorts and Longs - This option will include wash sales between short sales and long trades. Some accountants disagree with this, so we allow you to run the Gains & Losses report without calculating these if you wish.
  • Show SSN / EIN on reports - This option allows you to include your social security number or EIN on the Gains & Losses report header.
  • Gains & Losses Start and End dates - These are set by default to only include gains and losses realized from January 1 through December 31 of the current tax year. If you wish to run this report for a smaller date range such as one month or one quarter of the year, you may change the Start and End dates appropriately.
Running the Gains & Losses Report:
  • Select the Account Tab for the account you wish to run the report for. If you are running this report for tax purposes select the All Accounts Tab.

  • Click Reports, Gains & Losses.
  • Opt to Show SSN / EIN if you wish. Click Run Report
  • The Gains & Losses report will display. Sample shown below.