How do you track the trades for tax records?

Discussion in 'Retail Brokers' started by fh2000, Jun 2, 2009.

  1. fh2000


    I have been with IB for a couple of years. I mostly trade options and the amount of trades are normally less than 10 per month so I print their trade confirmation and manually enter into Schedule D with TurboTax during tax season.

    This year, I found myself entering a lot more trades. Sometimes in an out of a stock 5 or 6 times a day. But I am not a day trader, and I do have a regular day job.

    I know IB provides Tax forms and Schedule D for tax purpose. Shall I just track my overall PnL and forget about printing trade confirmation, and simply wait till the end of the year, download their Schedule D into TurboTax?

    Is this what you guys do if you are a retail trader/invester?