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Wish I could help you there. Do you have to file any US tax forms? If not, then probably you should be safe. I would contact a tax professional or try to get the question answered on a tax forum. A quick google search revealed nothing for me.

I have never actually considered whether the values on the K-1 make sense. I just take them at face value. Whether or not they make sense or not doesn't make them go away (unfortunately). In your case, it appears that because of that box 11, your Section 1256 losses will be minimized (after...

You probably already knows this, but you can opt out of their security device, but then you assume all liability of having your funds stolen.

Which is sucking wind at the moment (if you judge based on stock price).

The K-1 has nothing to do with your trading profits. It has to do with how the activities of the fund were distributed to you as a "partner" while you were long the security. If you are short, you are not a "partner" and thus you have no numbers in your K-1. Your trading profits are separate...

Well, I don't know what to make of that. Did you completely dispose of all shares that you bought in 2013 in 2014? Is it possible that some of the basis adjusment has not been "unlocked" yet because you haven't completely disposed the shares?

I guess this makes sense if a person is weak-willed, weak-minded, and cares what other people think. Otherwise, it makes no sense at all.

I got my SVXY K-1 for 2014 a few days ago (and I was able to access it online a week or so ago). Have you received your SVXY K-1 in the mail yet? I'm just curious if it turns out what I'm saying has any shred of truth to it or not.

The reason that there is no cumulative adjustment to tax basis for some shares and there is some for others depends on when the SVXY custodians had to perform maintenance (i.e., buy and sell futures) in order to run the fund properly. If you happened to hold SVXY shares while they were doing...

Okay, well this could be the issue then. When you hold a position over the year boundary, you will get dinged by the K-1 totals for the previous year (2013 in your case) and your cost basis for your shares does increase, but since you have not closed out the position yet, you will not get this...

Well, that is strange. Do you have any numbers in the "Cumulative Adjustment to Tax Basis" column (other than 0)? Did you hold a SVXY position in any account from the previous year or into the next year (2014)? Something is not adding up here. I have an SVXY K-1 from 2013 in front of me. I am...

How do you "inadvertently" remove trading permissions? It takes IB a week to send this notification out? Pretty unacceptable and I wasn't even affected by this snafu. I guess they are sorting things out, but still, the lack of communication and the way they handled it is troubling.

If you traded SVXY a lot of times with buys and sells on many different dates, then on your K-1 you would have many different lines on the sheet where it has these columns: Units Disposed, Acquisition Date, Disposition Date, Cumulative Adjustment to Tax Basis, etc. What I am saying is that you...

Another reason the total tax liability might not exactly match is that the section 1256 contracts get 60/40% tax treatment, which you wouldn't get if you just reported your stock transactions as is. Honestly, I doubt that the "guide makers" at ProShares know enough to make a really clear...

;)

Just remember I'm not a tax expert, but the way I like to think about this is that in your case you are considered a partner in SVXY. And whatever actions the custodians of SVXY take have tax implications for you (i.e., what is on your K-1). In this case, the custodians traded futures on certain...

Really pathetic customer communication going on by IB here.

IB's communication with its customers in situations like this leaves a lot to be desired. I love trading through IB, but this kind of thing is getting old.

You are right, the web trader is nothing like TWS. It doesn't seem horrible, but it is definitely not the same. I don't think your wish of getting TWS like functionality from the web trader is going to come to fruition.

Sorry for the confusion. I am talking about your personal setup, not the web setup. You said you updated TWS and then suddenly a huge bar was taking up lots of space. And that is what I am referring to.