I have been trading for the last couple of years and have really ramped up the amount of trades I do over the course of a year. Does anyone have any experience with either Gainskeeper or Tradelog for keeping track of trades for tax purposes? Until now I have been manually keeping track in Excel and calculating wash sales myself, but this is taking too much time I could be spending on other activities. Would appreciate any thoughts or opinions on either of these and how they stack up against each other.
I use gainskeeper. Not cheap but effective. One certainly has to wonder now that since the IRS is requiring brokers to publish your cost basis (for equities), will this lead to brokerage houses effectively providing this service for you in future years since it isn't a huge leap to spit out the wash sale data...