So you pay for TradeLog and have to enter your trades manually for the fist year?
Tax filing with IB
- Thread starter caret311
- Start date
Tradelog downloads directly from my broker IB in a matter of minutes. OK, maybe a few minutes per 1,000 transactions.
For the first year, it requires that you enter open positions as of the end of trading on 12/31. I'm usually fairly flat on 12/31 so I had maybe 15-20 positions to enter. Multiple positions in the same underlying with different purchase/sale price/dates etc. could be sped up by copying the lines and then changing relevant details.
OTOH, if there had been a lot to enter, I would have downloaded all positions from the date of the first open position, noted the transaction #'s and then cut and deleted all other transactions thereby leaving me with the same open positions - sort of manual deletion
Everything is pretty straigtforward if you read the directions (g). Corporate entries were a PITA to get right (tender/merger for different number of shares plus fractional shares plus cash) but the corporate transaction is the headache not the program.
My Sched D was over 800 pages long with a ton of wash sale violations since I scale my positions up and down, occasional fllipping from long to short or vice versa. That's a nightmare to keep track of so TL makes sense for me. If you don't have a lot of transactions, or you close entire positions and you don't have wash sales, a simple spreadsheet or some of these lighter weight programs make more sense.
Quote from spindr0:
Tradelog downloads directly from my broker IB in a matter of minutes. OK, maybe a few minutes per 1,000 transactions.
For the first year, it requires that you enter open positions as of the end of trading on 12/31. I'm usually fairly flat on 12/31 so I had maybe 15-20 positions to enter. Multiple positions in the same underlying with different purchase/sale price/dates etc. could be sped up by copying the lines and then changing relevant details.
OTOH, if there had been a lot to enter, I would have downloaded all positions from the date of the first open position, noted the transaction #'s and then cut and deleted all other transactions thereby leaving me with the same open positions - sort of manual deletion
Everything is pretty straigtforward if you read the directions (g). Corporate entries were a PITA to get right (tender/merger for different number of shares plus fractional shares plus cash) but the corporate transaction is the headache not the program.
My Sched D was over 800 pages long with a ton of wash sale violations since I scale my positions up and down, occasional fllipping from long to short or vice versa. That's a nightmare to keep track of so TL makes sense for me. If you don't have a lot of transactions, or you close entire positions and you don't have wash sales, a simple spreadsheet or some of these lighter weight programs make more sense.
So what if you had no carryover from 09, and I want to import all my trades for this year, can I do that?
I can't get the demo to download anything.