SOFTWARE: TRADELOG® FOR GREENTRADERTAX
Take the quick tour of the program and download a free trial
copy. Browse the list of supported brokers to see how it works with your
On our TradeLog
accounting and cost-basis
reporting pages, we explain why our CPAs consider TradeLog
the best solution for securities trade accounting.
Other accounting solutions are often a problem for taxpayer compliance
We frequently find errors in other programs and solutions on
wash sales, tax treatment and more. Many of these programs or solutions
are geared toward the needs of brokerage firms, and IRS rules for broker-issued
securities 1099-Bs are materially different from what taxpayers
need to report on their Form 8949/Schedule D. Brokers are permitted to
wash sales based on "identical positions," whereas taxpayers
must report actual wash sales based on "substantially identical
positions" (between stocks and stock options based on the same symbol).
Many tax preparers get lazy and import broker-issued securities 1099-Bs
into their tax preparation software which is a huge mistake, because it
will either overstate or understate trading gains and losses.
Other programs and solutions don’t provide all the required
tax information in the first place. Business traders with Section
475 MTM (ordinary gain or loss treatment) won't get what they need
from an "everyman-prepared"
1099. Or the 1099-B will contain errors on tax treatment of securities
1256 contracts. We need to fix these errors with other solutions,
whereas TradeLog gets it right the first time. Corrections take time,
which winds up costing you money. The only way we can be sure your trade
accounting is correct is with TradeLog.
If you trade as an individual, you should also run TradeLog on
your IRA accounts, as your IRA accounts can trigger non-deductible
wash sale losses in your individual taxable accounts. To avoid this, don't
trade the same symbols in your IRA or use Section 475 on your taxable
business trading account. Another way to avoid these IRA-related wash
sales is to trade in an entity,
as the entity and your individual IRA are not connected for purposes of
While TradeLog doesn’t automatically handle corporate
actions such as reinvested dividends and stock splits, they do ask
you to manually account for them. Most brokers account for them in their
cost-basis reporting on Form 1099-Bs. If you have corporate actions —
which might be the case with longer-term investments rather than with
active trading — it’s important to adjust TradeLog accordingly.
Otherwise, you could have unreconciled items for these situations between
your Form 8949 and Form 1099-Bs, and in this case, the Form 1099-B will
TradeLog® is easy to use and also comes
with free product support from Armen Computing, Ltd. If you prefer more
help, GreenTraderTax can set up your program and also handle your
annual trader tax accounting. It all ties in nicely with GreenTraderTax's
compliance services. Simply upload to our secure ShareFile your TradeLog®
data file at year-end.
TradeLog pays GreenTraderTax a commission on sales and upgrades generated
through our above site link. It's the same price you pay elsewhere, so
we appreciate you buying the license through our site. Thank you.
Media Recommendations: TradeLog was recommended almost
every year for the past decade by Barron's,
Forbes and other publications. Our clients really appreciate
using TradeLog; read many great testimonials on the TradeLog
site. One testimonial is included below.
If you have any questions about TradeLog, please contact TradeLog, or
us at email@example.com.
You will thank us for saving you plenty of time, headaches and taxes.
Robert A. Green, CPA and Managing Member of Green NFH, LLC
Darren L. Neuschwander, CPA and Managing Member of Green NFH, LLC
From: Mxxxx@aol.com [mailto:Mxxx@aol.com]
Sent: Thursday, August 16, 2012 12:00 PM
I am a stock and options trader and have been for a number of years.
I also have used your TradeLog software for most of that time. I have
to tell you that without TradeLog, I would not have been able to file
my 2011 tax returns.
I received a 1099-B from Tradestation on March 13, 2012. I had already
downloaded and run my TradeLog reports. I am a MTM trader in securities
who should not have been affected by the new Form 8949. Yet there were
more than $2 million in errors on my Tradestation 1099 report. I have
called them every month since then and each month they tell me that I
am one of the clients to receive a corrected 1099-B that will be coming
"soon." Yet, here it is, Aug. 16, 2012 and still no corrected
1099-B. I seriously question whether the 2012 1099-B will be accurate.
I used my TradeLog numbers to file my 2011 tax return and explained the
situation to the IRS in notes. Without TradeLog I would have been lost.
Thank you for TradeLog. And, by the way, there should be a huge penalty
for Tradestation for not providing me an accurate 1099B, don't you think?