This is my first year trading stocks long and short in my taxable account at IB. From looking at their website it's extremely unclear whether they provide everything needed to provide to my accountant. Can anybody tell me whether IB provides end-of-year cost basis statements? Or do they simply provide proceeds from sales and leave it to you to figure it out? If the answer is no and it's up to the customer to figure out the tax, can anybody state the software they are using to parse IB trade activity? Thanks. Just thinking ahead for the nightmare that might lie ahead.
IB has provided a Schedule D-1 worksheet for [I think] 3 years now. The first year, there were mistakes, and I couldn't use it. The last two years, it was fine. The Schedule D-1, plus the Form 1099, should be all your tax preparer needs.