What do you do to keep track of trades for taxes? (trading thru IB)

Discussion in 'Interactive Brokers' started by thereuare, Jul 9, 2002.

  1. I have submitted summaries on a per-security basis. My accounts have done that for 5+ years and it's never caused any audits. I obviously keep all the details, should the IRS ever want to see it.
    #21     Jul 11, 2002
  2. moffitt


    Thanx to everyone for their reply.

    #22     Jul 12, 2002
  3. I do the same thing. Each security gets just 1 line on my Sched D, with 1 net buy and 1 net sell figure.

    edit: and the related P&L of course
    #23     Jul 13, 2002
  4. moffitt


    I don't get a statement that breaks down by security. It just lists all my trades on a daily basis. So to keep track of a p&l by security
    would also be a project. I just don't want an accountant
    to tell me to list all trades. Then have him charge me big money to do my tax return.

    #24     Jul 14, 2002
  5. Catoosa


    I have been using Captools Global Accounting Software and it does handle the accounting of futures, options, and currency trading.

    #25     Jul 18, 2002