IB - Straighten out your f'in Bookkeeping!

[maryp]

Quote from TraderZones:

Because this "XYZ company screwed up ABC" comes up all the time on the web, the OP does not provide any evidence,

That's because the person having the problem is so mad about the problem and so confident that they are correct that they may feel like they do not need to post any more evidence.



the OP is anonymous, we don't hear the other side, it is not even possible to tell whether the OP works for a competitor, it is not possible to see whether the OP is one more of a long line of disturbed ET posters that we constantly get

True. OTOH, we don't know whether they are a shill either.



And the accusation that IB gets it wrong all the time is highly unlikely. They would be under investigation of they had the stream, of these kind of accounting problems from a lot of people.

IB may not get it wrong all the time, but much of the time. This would not necessary cause an investigation. The SEC and Fed (including IRS move slowly. It could take years.

 

[kiwi_trader]

Yeah sure.

Take some responsibility and get on with it or fuck off and be dissatisfied with another broker. Grow a pair.

 

[JackR]

Quote from maryp:
I am not a competitor, and do not believe IB does correct accounting. Additionally, IB does not even complete the 1099-B correctly. They leave lines 8, 9, 10 & 11 blank.

Maryp:

Boxes 8,9, 10, and 11 are just for for Futures. My blocks 8 and 11 were filled out. Blocks 9 and 10 show open contracts held at year end. I had none so the boxes were blank. What was missing on your 1099-B?

Jack

 

[TraderZones]

Quote from maryp:

That's because the person having the problem is so mad about the problem and so confident that they are correct that they may feel like they do not need to post any more evidence.

You have done nothing but rant and defend your arguments, and basically have ignored other people who are pointing back at you and your understanding.

Your basic premise is, "IB is wrong and I cannot be."

When an anonymous person is compared with a major broker, no rational person is going to give you credibility.

You have not offered clear proof, or clear problems with IB (except basically, "they do not do it right.")

 

[Bob111]

once again IB's PnL in account window of TWS(899.8) is messed up

it shows trades and realized PnL from day before and add it to total realized PnL for day. i'm going to send actual screenshots to Dave.
When you guys stop messing with new features and fix the f* BASIC things like PNL? unbelievable...

 

[bumblebuzzard]

Quote from Bob111:

once again IB's PnL in account window of TWS(899.8) is messed up

it shows trades and realized PnL from day before and add it to total realized PnL for day. i'm going to send actual screenshots to Dave.
When you guys stop messing with new features and fix the f* BASIC things like PNL? unbelievable...

Why do you say "once again"? That's the way my TWS has been for years. (Also, it's the way I like it.)

 

[Bob111]

i got same problem today. realized PnL from yesterday trades shown on account window. closed positions from yesterday also shown on account window

 

[Bob111]

anyone else got charged $10 SEC fee on 02/5/2010? i got this on one account (not active),but no fees on others.
What is it for?

Thank you!

 

[Kicking]

Quote from maryp:


I'd strongly suggest that IB stop wasting time screwing around constantly making changes to their TWS trading platform, and work on something to help us, the customer, their bread and butter for a change. IB, straighten up your bookkeeping and help out your customers more with their taxes.

Too many incompetents that's the problem as always, but especially in this case I am afraid.

 

[spindr0]

Quote from maryp:

I'm about to change from IB because of its lack of dilligence in its handling of our taxes. I'm in the process of doing my amended taxes for 2008, and everytime I try to do my taxes I have a problem with IB's recordkeeping.

Interactive brokers used to offer gainskeeper or captools, but it seems they cannot make up their minds, and have taken them away. All they offer now is html, pdf, and txf files for Turbotax.

So, I am using Turbo Tax. After importing my Schedule D worksheet from IB, Turbotax comes up with an error on every trade.

IB doesn't do our trade gains/losses correctly. Nevermind that. They should at least get their f'in bookkeeping straight, and fill out the 1099's they send us correctly. The 1099's are always incorrect and blank where information should have been filled in by them.

Have you considered the possibility that the problem is TurboTax or your usage of it?

I use Tradelog with IB. I haven't done 2009. For 2008, I traded over 2 million shares and did a daily Sched D in a spreadsheet as well. At the end of the year, one of them was off by a total of $4 or so and more than likely it was me since I'm manual. Close enough. If the IRS disputes the $4, they can have the entire amount

However, I don't know what you trade or what your problem is.