With brokers providing complex Form 1099-Bs for securities for cost-basis reporting with wash sales, many traders want our help.
Start off by reading our Trader Tax Center pages Accounting Solutions for Traders, IRS Cost-Basis Reporting and Form 8949, and GTT Tracker with GTT TradeCounter. What becomes very evident fast is that securities traders need Tradelog or a similar program. We are the leading reseller and authorized service provider for Tradelog. Many traders prefer our CPAs to prepare their accounting using Tradelog, including Form 8949, 4797, reconciliations to 1099-Bs, wash sales and more. Purchase your own Tradelog license or rely on our Tradelog professional license which we expect to be available soon.
Accounting Services for Trading Gains and Losses
Brokers provide complex Form 1099-Bs and profit and loss reports for securities with cost-basis reporting. These reports account for wash sales based on identical positions per account, but taxpayers must report wash sales based on substantially identical positions (between stocks and options) across all accounts including IRAs. Many traders want our CPAs to review their trade accounting results and software data files. We often spot errors and make vital adjustments. It’s important to get the IRS Form 8949 right.
Accounting Services for Expenses
Simplify your expense accounting using GTT Tracker. It’s is excellent for tracking expenses, time and qualification for trader tax status. (Read about GTT Tracker with GTT TradeCounter.) We can help you set up GTT Tracker or another accounting solution and review the results at year-end for tax planning and preparation.
We look forward to working with you soon.
Managing Members Robert A. Green, CPA and Darren L. Neuschwander, CPA