Recent content by BrianH

Bob, Don't take this wrong but I can't help wondering if you're concerned with 10 million dollar transactions and doing thousands of trades a year it would seem you could easily afford to hire Green and let them do the whole thing for you so you can concentrate on trading. Maybe I'm not...

As crazy as it sounds from everything I've heard the answer is yes -- you have to send that whole document if you want to be in compliance. As a long shot though you might try calling them and ask if they really want all of that. Problem is you're not likely to get an agent that really knows...

I guess if that still works why not, but don't count on any support -- the company seems to be out of business http://americanware.homeip.net/tk I've started the process with TradeLog. So far so good -- did the first smaller account with 200 trades and it came within 7 cents on the reconcile...

re: listing each trade -- ran across this elsewhere on the forum: http://www.nysscpa.org/trustedprof/206/tp4.htm

I hear your frustration. The IRS does seem determined to make being in the business of trading harder than most others. Not sure if you can elect MTM if you don't have trader status first. If you trade short term and full time there are many advantages to having trader tax status including no...

You can do that if you have trader status with the MTM election but you also must include every trade in detail on Sched D or a matching extension. The law changed and a summary or "details upon request" is specifically mentioned in the instructions as not acceptable. BTW the worst possible...

Bob, Well I sure wish we could do it that way. IF you had trader status and the MTM election with the IRS it USED to be you could do that but now you have to list the details of every trade and it has to be on Schedule D or a matching extension. You can't attach your brokers statement or say...