I trade with 3 different brokers: interactive brokers, trade station and Charles Schwab. I used gainskeeper to keep track of trades and upload to turbotax. I noticed that gainskeeper reported assigned options twice from Schwab. I had about 50 assigned options, so I fixed it in gainskeeper. But I was wandering if there is a better way to consolidate data from different brokers? Alternatively, can I upload transactions from interactive brokers and tradestation directly to turbotax. I know I can from Schwab. Is there a difference for uploading stock transactions into turbotax online and desktop versions? I asked that question turbotax representative but she had no clue. I know there was few years ago.
I have a few clients that use gainskeeper. There are always some trades that need to be reconciled. It should not be a big deal.
We only know one software that calculates wash sales correctly in accordance with IRS rules for taxpayers stated in Section 1091: wash sales based on substantially identical positions across all individual accounts including IRAs, including Roth IRAs. Broker 1099Bs calculate wash sales based on IRS rules for brokers: wash sales based on identical positions per one account. That falls far short of the rules for taxpayers if you trade stocks and options (substantially-identical) and or have multiple accounts. Gainskeeper calculates wash sales based on identical positions across all accounts. GK falls far short if you trade stocks and options or just options. Options at different exercise dates are substantially-identical, but not identical. TradeLog calculates wash sales based on substantially-identical positions across all accounts including IRAs. This is an inconvenient truth that TDA ignores serving up GK to it's customers and most other brokers want to hide. Active securities traders with multiple accounts and trading options need TL.