I finally got an update to the ticket. It turns out the discrepancy is being caused by wash sales. I elected Mark-to-Market Accounting (Section 475(f) election) back in 2001. Since all positions marked to market at year end, there are no wash sales to calculate or report to the IRS. I need IB to calculate my trades/taxes based on this MTM accounting election. Can someone please tell me where in the IB menu can I update this election so they calculate my taxes based on it? IB talks about it here but I can't see where to update it for my account. https://www.interactivebrokers.com/webinars/Taxes_and_Trading_Understanding_the_Basics.pdf Thanks.