Recent content by morgen

The loss of the first trade was added to the cost basis of second trade. Since the second trade has a larger gain than the loss from the first trade, so still ends with a gain. But you sold at a loss and repurchased the same stock within 30 days, this would be considered a wash sale. If the...

I think using a software like TradeMax can solve your problems. Its premier version supports unlimited transactions import, and supports importing trade data directly from scottrade without manual input. It also figures out wash sale very well. http://www.itrademax.com

You can round the actual prices to the nearest dollar. And in the description, yes you can put whole numbers instead of the actual fractions

You need a 2008 one. They are available at www.irs.gov. BTW - you reported it as short term, they only input what you reported. If you did not report it at all, it will be considered ordinary income.

TradeMax 2011 provides users with easy steps to generate Daily Account/Portfolio Value Chart Report or Mark to Market Gains & Losses Pie report for the purpose of better investment , Daily Account Value chart report helps the users compare your current Account Value with other...

A Stock Split is the increase in number of outstanding shares of a company without any change in the shareholder's equity or market value. There are no tax consequences when a stock split occurs, but you should be aware of pre-split and post-split prices for tax calculations of determining...

TRADEMAX premier is very stable, supports unlimited quantity of records. Its Daily Account Value chart report helps the users compare your current Account Value with other index(DowJones,S&P500) and analyze trade performance based on the detailed information on daily basis, while the Gains &...

It would be a wash sale if the purchase is by an IRA (including a Roth IRA). When you calculate cost basis with wash sale adjustment, you need to combine all investments accounts owned or controlled by you, including your spouse¡¯s account or any corporate account you control. The wash...

It probably had to do with a reinvestment of dividends within thirty days of the sale. the disallowed loss added back to basis is now 'allowed' because the fund was liquidated.

First, you should check once more your transactions again to find out if there is some transactions which sold at a loss and bought the same stocks within 30 days. If not, there is something wrong with the statement, just call your broker to tell the mistakes.. I like to download my...

Your basis -- including the dividends if you reinvested them in additional shares -- simply transfers over to the new shares.

They are upgrading often, I seldom use this function, because I tend to do some foreign currency transactions...I will give you a link , you can have a look at it... http://www.itrademax.com/ipress/news/whats-new-in-trademax-ver-2011.htm

Your tax software is correct. Gifts are valued at the price that the person who gave them to you paid .The recipient's cost basis of stock received as a gift is Fair Market Value at the time of the gift.

options traders that means you better get intimately acquainted with Schedule D of your tax return. This is the form where you report your capital gains and losses for the year, and if you¡¯re like most options traders, you¡¯ll have plenty of short-term, and likely some long-term, capital...

Your net gains or losses should be reported on Field No 0810, Line 3 You can refer to the information by visiting the following URL http://www.irs.gov/efile/article/0,,id=185692,00.html