Search results

Daal: I have two brokers, IB and a back-up futures-only broker. I discontinued my IB NYBOT/ICE subscription at the end of December as I don't trade the TF that much. My other broker currently provides all data as part of their commission\platform structure. So I monitor the TF from their...

It is difficult to believe that the IRS, the brokers, and the tax program people will not have things pretty well figured out by the start of the next tax season. I trade futures so I don't pay much attention to mark-to-market. But if there are tax advantages to you not being mark-to-market...

From an IB Bulletin: (August 2007) To CFE,ECBOT,GLOBEX traders: Mon Aug 6 09:14:14 2007 EST IMPORTANT MARGIN NOTICE Effective Monday 6 August, 2007, and until further notice, there will be a significant change in the intraday margins for most stock and index futures and futures...

Lindq: I basically trade futures with an occasional equity/option trade. As such I don't have any trades showing an adjustment that I can look at. The IB example shows +/- G. Your example shows a positive "G" number. Do any of your actual trades also have negative "G" numbers...

Lindq: This is from the IB webinar on the 8949 - Calculating Gain or loss on Form 8949 Taxable Gain or loss for individual transactions is not calculated on Form 8949. To calculate gain or loss: Column E (sale proceeds) – Column F (cost basis) +/- Column G (adjustments ) = Gain or loss...

Options12: I think the disclosure below is also important. However, it does bring up the fact that you may be trading against an "IB affiliate". Whether IB goes to the same "equal or better routine" they run with stock and options is unclear. I also know I have read here on ET, a post from...

As I understand the IB forex system, IB has a small standalone network set up on which some banks and all customers may enter offers to buy and sell. It is not, to the best of my knowledge, tied to the interbank forex system, but is tied to some banks that deal in the inter-bank forex market...

I think the server was hacked. It was acting strangely and then started logging everyone off. I guess they haven't corrected it yet. Jack

From the TradeLog website: Problem 1099 info they have dealt with so far: Charles Schwab Etrade Fidelity Interactive Brokers Penson TD Ameritrade TradeStation The IRS rules must be really badly written. It is hard to believe that these major brokers are all making similar...

Daal: I don't think so. I think the $75 is real. Look at DAV's post, five posts back in this thread. What IB may have done is quietly honored the $75/$1 notice they made. But only for January and February. The data feed pge is pretty clear about the $75...

Abducens: The Futures info is obtained from your Form 6781, lines 6 and 7. You normally enter it on the Sch D worksheet. It will eventually be part of lines 4 and 11 of Sch D. Jack

Bob: I did play with multi-million $ lines, not a single line. Why not try one line for "covered", one for "uncovered", one for "wash", and one for "other". Or just split them into "Covered 1", "Covered 2", etc. Jack

If you have a chain of wash sale losses, and never make a profit, you finally realize the loss when you stop trading that issue for more than 30 days. The last purchase, with its carried-forward adjusted basis, determines your final loss. Just as a neat thing - If you took a loss on an...

Clarodina: I have no idea about what IB would do. Just call them, You'll get a yes or no. Dynamic IP would not work. Phoenix: Never noticed a time-out when I use mine. Jack

Clarodina: Try going to Account Management. Then Click User Management in the left pane, then click Secure Transaction Program. I'm not sure if the Secure Transaction Program will be there as I already have a device and IB may not show that selection if they will not issue one to you...

Sprstpd: I was intrigued and cranked up the webinar. She says there will be a difference between the statements, that use mark-to-mark values, and the 1099-B numbers. Nancy confirms what you found, though she does not mention settlement date, just the purchase/sale date. She covers this...

Sprsptd: I did not make any notes about it as I had no "foreign" trades, but I think that Nancy Nelson(?), the IB tax specialist, said that they prepared the 1099-Bs using the closing spot price. So what you are seeing on the 1099-B is the US $ amount. I don't recall precisely what she said...

Slightly off topic - but for those that listened to the excellent 8949 IB webinar - here is a followup on establishing basis versus sale for future IB trades: Tax Optimizer - Beta IB's new Tax Optimizer allows customers to manually match specific lots on a daily basis, but it doesn't stop...

Options12: I don't trade forex. So I'm not sure about this, but isn't there a difference between a forex broker and a forex broker-dealer? I was under the impression that IB was a forex broker, not a broker-dealer. Jack

CA04: If you carry no overnight loan balance you pay nothing. Since you are flat (have no stock in your account at the end of the day), there is no settlement date for any trades you made. The issues you traded will settle elsewhere. IB charges interest on the settled balance. Look at the...