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    Should I cut position size on Monday?

    Is your position bigger than your capital?
  2. G

    I have 200k in my IRA, would like to trade it

    What return on your capital do you have in mind?
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    Botched 1099-B cost-basis reporting: The List

    Totally agree with you. Imagine someone closing 2 positions with realized 100k profit and realized 110k loss. Should he pay taxes on 100k realized gain and defer realizing his losses who knows for how long as if those losses are just on paper? Insane.
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    declaring MTM and sending attachment

    You need to get a trader status first.
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    Trader Petition To Sign To Avoid Unecessary Audits. Sign Immediately. Time Critical

    Wash sale rule is at the core of the problem. When it comes to paying taxes at the end of the year the losses should be as real as the gains. Makes accounting simple and taxes fair.
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    Botched 1099-B cost-basis reporting: The List

    Disallowed wash sale loss was a concern for me too but after the total numbers were entered into schedule D including total wash sale as adjustment it matched my simple p&l calculations (no wash sale adjustments) on 8949. So if they update cost basis correctly (which I believe now they do) it...
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    Tradelog & 8949?

    Correct. I believe only 8949 can be audited by the IRS but I doubt it can be reconciled.
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    Tradelog & 8949?

    Even so I hope you agree with me that the traders do not take responsibility for the records in 1099B provided by a broker. They are only responsible for their own records on the form 8949. Therefore they should not be required to explain the records on 1099B form. So in order to reconcile them...
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    Tradelog & 8949?

    According to my accountant it's not required to send 8949 when filing electronically. So at the time of filing 8949 is not even in the picture.
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    urgent: IB 1099 for 2011 doesn't match Total P/L for 2011 Statement Period

    Agree. Let them reconcile 1099-b and 8949 if they want to. :)
  11. G

    urgent: IB 1099 for 2011 doesn't match Total P/L for 2011 Statement Period

    I would suggest your accountant to prepare 8949 form for you and calculate p&l based on that.
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    IB tax questions for the experts

    Investment expenses on schedule A.
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    Botched 1099-B cost-basis reporting: The List

    If brokers have to report all transactions to IRS, why is it required from the traders to report the same transactions on 8949 form? How the IRS expects an average trader to reconcile hundreds of trades on 1099B and 8949 form without a special software ( under assumption that the records by a...
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    Botched 1099-B cost-basis reporting: The List

    Penson reports total disallowed wash sales loss for the year to IRS. To what security should I add total wash sale loss? To all my transactions next year?
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    Botched 1099-B cost-basis reporting: The List

    I've received new 1099-B from Penson this year that has a large number in the 'Wash Sale Loss Disallowed' column. Can someone please tell me when I am actually allowed to take this loss?
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    Botched 1099-B cost-basis reporting: The List

    IB has reported cost-basis information to IRS only for stocks,not options,correct?
  17. G

    return calculations

    This is simple: You actively trade with 25K and you keep 75K in reserve then your returns are calculated off 100K of total account value. No shortcuts.
  18. G

    return calculations

    When calculating your return you divide account value at the time position is closed by the account value at the time position was opened ( save deposits and withdrawals) .
  19. G

    What I Like About Communism

    Socialism is a dictatorship of one party and there is one employer, the state. And socialism of working class is scary.
  20. G

    What I Like About Communism

    The air in Russia is even worse because cars didn't have pollution filters.
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