How should I log trades for tax purposes, currencies

Discussion in 'Taxes and Accounting' started by Greedy Taurus, Dec 9, 2010.

  1. Hey guys I just started becoming profitable and need to log my trades to report to the IRS. Can anyone please recommend a program or online tax preparer geared towards traders? I'm checking out GreenTraderTax and their logging software. Anyone have any experience with them?

    Thanks in advance for some much needed help.
  2. dalen


    Your broker should email you a statement everyday. List of your trades and balance..
  3. morgen


    I use trademax, it may meet your requirements.
    it's very powerful, allowing you to do the following :
    1. track investments in international markets and in multiple currencies
    2. track cash positions
    3. support short positions
    4. support for options, bonds and futures
    5. support for options on commodities futures
    6. price data update online (via Yahoo! Finance or other)
    7. support for multiple portfolios
    8. keep records of all transactions (even of closed positions)
    9. keep records of realized gains or losses
    10. allows you to import/export data
    11. generate reports and graphs
    12. support large quantity of transactions.