How do you keep track of your options trades, especially with multi-leg complex strategies for tax reporting purpose?
You could try this for free for 30 days: http://www.tradelogsoftware.com/ and see how it handles your 2012 or 2013 transactions (up to 200 records). I haven't used it to prepare my tax forms yet, but after using the demo in September, and seeing how it matched transactions, I was sold. It saves so much time and the price is very reasonable.
One of my clients uses Gains Keeper. He is very demanding and does a lot of transactions and likes them. http://www.gainskeeper.com/ 1245
This is my first year with option transactions to report... Have completed many Sch D's, but never with option transactions... About 200-250 in total from Covered Calls and Puts and Spreads... on RUT, SPX and NDX, which have their own special considerations.... I was thinking / hoping that my broker (OptionHouse) would summarize this data for reporting purposes... Am I being overly optimistic?
Broad-based index options, eg. options on SPX, NDX, RUT, OEX, etc, are 1256 contracts. You just need to report the total gain or loss. ( NO wash sale rules, but need to mark open positions to market at year end.) I never trade with OptionHouse. But some brokers do calculate the net gain/loss of 1256 contracts, and ordinary stock options in two separate sections for their customers. By the way, how can you have covered calls for RUT and SPX ?
In my early trading days.... back in March, 2012 (hehe).... I played with some Naked Puts, some of which were assigned, and associated Covered Calls.... Most of my transactions and my current focus is credit spreads on the index options..... Thanks
I don't see any reason why Quicken can't handle this ? I have accounts at AMTD, Optionshouse, Fido & eOptions and I never had any problems importing everything.
Thanks for this .... I do use Turbo Tax and if it can be imported into Quicken, I see no reason Turbo Tax cannot handle the import directly. Thanks