2003 was my first year of really active trading (2000 + transactions) and since I'm still paying my dues to trading school , I'm not keen on spending $300 for Tradelog. Has anyone used Tradekeeper with IB for 2003 taxes, and did it work out OK?
I bought the Tradelog, and really like it a lot. It's great the way it imports all your account history in seconds. You just have to keep each account separate. Elite Trader, or whoever it is up in Washington, states they will do it for you when doing your taxes, so you can save the cost. But you might want to check out what they offer, or if they have any software recommendations.
One more question while I'm waiting to hear from someone who's used Tradekeeper. IB doesn't net out the commission on the annual statement, does Tradekeeper have a problem with that?
Tradekeeper seems to work pretty well. Yes, it will prompt you as to whether the reported amounts have taken into account commissions or not. The learning curve is not huge, plus, they also have a yahoo forum in the event you have questions.
I use IB and TK, and both have worked well for me. I imported trades from monthly statements rather than year-end. I also used TK's wash sale adjustment.
Thanks to all for your response! Can I just import my yearly IB statement (2000 transactions) or is there a reason I have to import month my month?
This is a very longwinded version of "HEY...I JUST DON'T GET IT !!!" ....and very sappy...and weakly.... Look...in a normal distribution in any classroom...there will be some "f"s..........