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Thanks to all for your feedback. I did trade some regular options and also traded section 1256 contracts. I'll use Gainskeeper log to sort out the info to report on the tax return. Thanks rd100

For those who only traded options at ThinkOrSwim in 2010, did you receive any tax forms like 1099-B or other flavors? TOS tells me their clearing firm Penson did not report anything to IRS since I only traded options and it's for me to figure out my gains/losses to report on Schedule D. They...

Hi, Has anyone tried managed ETF portfolio service from Schwab and similar firms? They also have mutual funds service. Any feedback is appreciated. Thanks Rd100

That would be great... Could you please post here when this release is out? Thanks rd100

Hi, Since IB is not yet allowing converting Traditional IRA held at IB to Roth IRA held at IB, I was wondering if anyone used their rollover option by taking distribution from Traditional IRA and then rolling over funds to Roth IRA within 60 days. This is what IB has on their website- ======...

Any software recommendations for logging options' trades (that are not 60/40 like the SPY or IWM options) for Schedule D? If they work with IB or thinkorswim, that would be better since I have my accounts at IB and ToS. Thanks rd100

Taxation is not based on strategies, it's the underlying instrument. SPX, RUT options qualify for 60/40 since these indexes are broad based indexes.

Yes, if you trade options on SPX, RUT, NDX -- these are broad based indexes and options trades qualify as 60/40 -- So tax time, it is real easy, enter your profit/loss as one number on Form 6781 rather than listing each trade on Schedule D. ETF options don't qualify for 60/40.

Hi, I know trading options strategies like iron condors, calendars and butterflies on broad based indexes like SPX, RUT etc., you don't need to worry about Schedule D reporting as they qualify for 60/40 tax treatment. But if you were using same options strategies on their ETF counterparts...

Thanks all for your advice... I pay 1.25 per contract at ToS and 1.07 per contract at IB (even though IB says the comm is 0.70 per contract, I have never gotten it). I opened ToS account to leverage their platform and do small amount of trading while keeping my Friends and Family Advisor...

I negotiated commission down with ToS (it's per option contract and only slightly more than what IB charges. ToS has no data fees and no 'No trading' monthly fees)- that's why I say IB has only slight advantage over ToS in commissions. I'll monitor further in my live ToS account as to how the...

Thanks for pointing out... Yes, my trade today was on ToS papermoney... But if they were to fill it knowing it was papermoney, they would have filled it instantly. My order was 'working' for couple of minutes before getting filled as the price (shown on the working orders tab) fluctuated above...

No, I had a limit order - ToS filled it at the middle as they showed while IB filled at $0.20 worse. I checked the mid-point at ToS and submitted limit order on both ToS and IB. ToS filled it in about 2 minutes while at IB I had to change it to get filled in about 10 minutes.

Hi, I have couple of accounts (traditional and Roth IRAs and regular)at IB and trade SPX options thru Friends and Family Advisor setup. I trade multi-leg spreads like Iron Condors, Butterflys etc. I also opened an account with Thinkorswim recently to check their fills. Today, I had the...

Are you taking it out to a Roth and then back into IB Roth? Or are you taking it out to Traditional and then transfer-and-convert back to IB Roth? Are both options good or are there any pros and cons? Thanks rd100

Has anyone been able to convert traditional IRA at IB to Roth IRA at IB yet? Any idea when IB will enable this? Thanks rd100

Any updates from IB as to when they would allow converting traditional IRA held at IB to Roth IRA held at IB? Also, what is the process for converting a non-deductible IRA held at Schwab to a Roth IRA at IB? My non-deductible IRA at Schwab is all cash, no positions. Thanks rd

Let's say I make 10K in options gains and have about 4K in expenses (magazine and online subscriptions, seminars cost and related travel expenses). Can I have net gains of 6K pass-thru to my personal tax return? How can I do that without MTM/trader tax status at individual or entity level? Does...

Hi, I'm wondering if trading options as a business is good option for my situation- - Part-time trader - W2 income, max 401(k) contribution thru job - In high-tax bracket and won't need trading gains as monthly income - Trade options spreads lasting few weeks to monthly expiration dates...