Handle your wash sales and generator your Schedule D

TradeMax provides you a powerful function to adjust your trades

For example, companies may spinoff or merge. Brokers vary widely as to report it on their statements. It is impossible to automate the importing of these transactions in TradeMax, so manual adjustment is required by the user to account for the new stock.

1. Stock Split/Reverse split

TradeMax allows you to split your trades easily.

2. Stock MergeA merger is the combination of two or more corporations into one. Manual adjustment is required by the user to account for the new stock because the various brokerage statement.
3. Stock Spin offA corporate action in which a company’s existing shares are divided into multiple shares.
4. Inc-Income( Div, Int, etc)
   • You can achieve better control over your finances. The more TradeMax knows about the money you have coming in, the more accurately TradeMax can estimate what you’ll have left.
   • You can save time. TradeMax remembers the details of the deposits and other income you add here so you don’t need to reenter all of the same information each month.
   • You can get valuable tax information.
5. Reinvest-Income Reivested
   • It helps expand an individual investor’s portfolio,
   • It enables the investor to cross-reinvest income from any investment
6. Shares Added to AccountThere are times when you want to add shares of a security from an account without affecting your cash balance. For example, you may inherit shares or receive them as a gift. These transactions are different from Buys, and TradeMax provides you with such a function to better manage your portfolio.
   • The cost per share for inherited shares is generally the value of the shares on the date that the deceased died or on an alternative valuation date. When you receive the inherited shares, record the cost per share on that date
   • The cost per share for gift shares depends on the value of the shares on the date of the gift and the price that the giver paid for the shares, as well as your sale price if you sell the shares.
7. Shares Removed from AccountThere are times when you want to remove shares of a security from an account without affecting your cash balance. For example, if the security has been privatized, these transactions are different from Sells, and TradeMax provides you such a function to better manage your account.
8. Deposit into AccountDeposit is an umbrella term for any money you receive into any account you track in TradeMax. There are times when you want to deposit a sum of money to an account to better manage your transactions .
9. Withdraw from AccountThere are times when you want to withdraw a sum of money from an account to conduct other transactions. TradeMax provides you with such a function to better manage your portfolio.
10. Return of Capital

    Return of capital(ROC) refers to payments back to “capital owners” (shareholders, partners, unitholders) that exceed the growth (net income/taxable income) of a business. The ROC effectively shrinks the firm’s equity in the same way that all distributions do. It is a transfer of value from the company to the owner. Since the ROC shrinks the business and represents a return of the investors’ own money, the ROC payment received may not be taxed as income. Instead it may reduce the cost base of the asset. This results in higher capital gains when the asset is sold, but defers tax.

11. Div Paid on ShortSalesWith the market as it, many of you have decided to include shorting in your investment strategy. It’s quite possible that one of the companies that you shorted was one that pays a cash dividend. Since you are likely borrowing the shares that you initially sold to create your short position, you are required to reimburse the lender of the stock for the dividends that he missed. Your broker probably notified you of that fact, and reduced your cash position in your account by the amount of the dividend.
12. Combine Trades To avoid the wash sales in one day, TradeMax allows you to combine your trades with same buying slots (TradeDate, Action and Symbol are same).
13. Match Your TradesTradeMax uses strict “First In, First Out” (FIFO) trade matching as a default. It also provides the function enables the user to abandon FIFO trade matching and “force-match” specific trade transactions together into a tax lot. It will help you to avoid changing your long-term investment to short-term one.
14. Edit Symbol To apply changes to all trade records with the same symbol, TradeMax provides users Edit Symbol function.With this function, users can edit Symbol Name, Underlying Stock, Type, Rate, Strike Price, Expire Date, Exchange Market, Rates
15. Consolidate a Symbol Consolidate symbol function helps you to consolidate different ticker symbol name.

Different symbol will occur: 1) Trade data from different brokerages; 2) Corporate Action like merge; 3) Manually append trade mistakes.

16. Undo and Redo Action 

    Trade Max allows you to undo the last action and redo the previously undo action.

17. Move up and Move down 

    Trade Max allows you to adjust the sequence of the transaction records traded on the same day by moving up or moving down the transaction records.

You can split your trade as following:

1. Select the trades you want to split.

Learn more about: How to select trade records.

2. Right-click the selected record and select the Trade Split in the context menu:



 

3. A Trade Split dialog box will pop up:



Function	Description
1.Enter Transaction	Select the transaction type. There are the following option from its dropdown list : Stock Split/Reverse Split -– A corporate action in which a company’s existing shares are divided into multiple shares. Stock Spin off-– A spin-off is a new company formed by a split from a larger one. Brokers vary widely as to report spinoffs on their statements. Stock Merge-– The combination of two or more corporations into one.
2.Transaction Date	The very date you split the security
3.Account	Choose the specific account name from the account list. If you choose <All Account> from the dropdown list , event will apply to all accounts.
4.Old Security Name	The name of security before the specific event. Enter the old security name manually in the Old Security Name filed or Select it from the Symbol dropdown list.
5.Old Security Quantity	Number of shares before the specific event.
6.New Security Name	The name of the security after the specific event. Enter the new security name manually in the New Security Name filed or Select it from the Symbol dropdown list. If Stock Split, the New Security Name is the same as the Old Security Name.
7.New Security Quantity	Number of shares after the specific event.
8.New shares Issued	The split ratio automatically calculated by New Security Quantity/Old Security Quantity.

After checking all the information you entered, press OK button to continue the process or click Cancel button to cancel the appending process.

4. After pressed OK button, the following new record display:

The outlined row in red displays the New Split trade record.

5. You can cancel this action with the Undo Button in the trade tab.

Merge is the combination of two or more corporations into one. Manual adjustment is required by the user to account for the new stock because the various brokerage statement.

Make the adjustment just as follows:

1. Select the records referring Merger
2. Right-click the record and select the Trade Merge from its context menu
3. A dialog box will pop up:

Function	Description
1.Enter Transaction	Select the transaction type. There are the following option from its dropdown list : Stock Split/Reverse Split -– A corporate action in which a company’s existing shares are divided into multiple shares. Stock Spin off -– A spin-off is a new company formed by a split from a larger one. Brokers vary widely as to report spinoffs on their statements. Stock Merge -– The combination of two or more corporations into one.
2.Transaction Date	The very date you merge the security to another
3.Account	Choose the specific account name from the account list. If you choose <All Account> from the dropdown list , event will apply to all accounts.
4.Old Security Name	The name of security before the specific event. Enter the old security name manually in the Old Security Name filed or Select it from the Symbol dropdown list.
5.Old Security Quantity	Number of shares before the specific event.
6.New Security Name	The name of the security after the specific event. Enter the new security name manually in the New Security Name filed or Select it from the Symbol dropdown list.
7.New Security Quantity	Number of shares after the specific event.
8.New shares Issued	The split ratio automatically calculated by New Security Quantity/Old Security Quantity.

After checking all the information you entered, press OK button to continue the process or click the CANCEL button to cancel the appending process.

4. Afer you pressed OK button, the following new record display:

The outlined row in red displays the New Merge trade record.

You can cancel this action with the Undo Button in the trade tab.   

A Spin-Off is a new company formed by a split from a larger one. Brokers vary widely as to report spinoffs on their statements. It is impossible to automate the importing of these transactions in TradeMax, so manual adjustment is required by the user to account for the new stock.

Make the adjustment just as follows:

1. Select the records referring Spinoff
2. Right-click the record and select the Trade Spinoff from its context menu
3. A dialog box will pop up:

Function	Descripton
1.Enter Transaction	Select the transaction type. There are the following option from its dropdown list : Stock Split/Reverse Split -– A corporate action in which a company’s existing shares are divided into multiple shares. Stock Spin off -– A spin-off is a new company formed by a split from a larger one. Brokers vary widely as to report spinoffs on their statements. Stock Merge -– The combination of two or more corporations into one.
2.Transaction Date	The very date you spinoff the security to another
3.Account	Choose the specific account name from the account list. If you choose <All Account> from the dropdown list , event will apply to all accounts.
4.Old Security Name	The name of security before the specific event. Enter the old security name manually in the Old Security Name filed or Select it from the Symbol dropdown list.
5.Old Security Quantity	Number of shares before the specific event.
6.New Security Name	The name of the security after the specific event. Enter the new security name manually in the New Security Name filed or Select it from the Symbol dropdown list.
7.New Security Quantity	Number of shares after the specific event.
8.New shares Issued	The split ratio automatically calculated by New Security Quantity/Old Security Quantity.

After checking all the information you entered, press OK button to continue the process or click the CANCEL button to cancel the appending process.

4. Afer you pressed OK button, the following new record display:

The outlined row in red displays the New Spinoff trade record.

You can cancel this action with the Undo Button in the trade tab. 

Why do we record the income?

• You can achieve better control over your finances. The more TradeMax knows about the money you have coming in, the more accurately TradeMax can estimate what you’ll have left.
• You can save time. TradeMax remembers the details of the deposits and other income you add here so you don’t need to reenter all of the same information each month.
• You can get valuable tax information.

Just follow the step-by-step instruction to get a better manage over your trades.

1. Select the records you want to append.
2. Right-click the record and select Event Append in the context menu, then choose Inc-Income from its dropdown list.
3. A dialog box will pop up:
4. Type the infomation into the box.
   • Select the Transaction Date with you mouse or enter with you keyboard
   • Account is the account to which the selected record belongs .
   • Security Name is the name of the security you selected. You can select security name from the dropdown list. If the security name didn’t exist in the dropdown list, you can selectto add a new one through editing the dialog box.Learn more about: Symbol box parameter
   • Manually enter the amount of Dividend, Interest, Short-term cap gain dist( Short-term capital gain distribution), Long-term cap gain dist( Long-term capital gain distribution), Miscellaneous. Or you can leave some of them blank .
5. After checking the information, press OK to continue the process. You will see the following grid:The record has been split into several records.
6. You can cancel this action with the Undo Button in the trade tab.

 

Why do we append reinvested income?

• It helps expand an individual investor’s portfolio,
• It enables the investor to cross-reinvest income from any investment

The following wizard will show you how to record purchases of additional shares of a security with money paid to you by that security as Dividend or Interest income or Captial Gains Distribution(short-or long-term).

1. Select the record to which you want to append the reinvested transaction

   Learn more about: How to select trade records.

2. Right-click the selected record and select the Event Append in the context menu, then choose Reinvest-Income Reinvested) in the dropdown list
3. A dialog box will pop up:
4. Type the information into the box:

• Select the Transaction Date with you mouse or enter with you keyboard
• Account is the account to which the selected record belongs .
• Security Name is the name of the security you selected. You can select security name from the dropdown list. If the security name didn’t exist in the dropdown list, you can selectto add a new one through editing the dialog box.Learn more about: Symbol box parameter
• Manually enter the amount of Dividend, Interest, Short-term cap gain dist( Short-term capital gain distribution), Long-term cap gain dist( Long-term capital gain distribution) Miscellaneous and the shares of security . Or you can leave some of them blank .

After checking the information, press OK to continue the process. You will see the following grid:TradeMax splits the record to several records.

• Symbol ID104 is the original trade record.
• Symbol ID 206 shows the Reinvested Long term capital gains of 50 shares of ACS1 is $15
• Symbol ID 205 shows the Reinvested short term capital gains of 50 shares of ACS1 is $10
• Symbol ID 204 shows the Reinvested Interest of 50 shares of ACS1 is $8
• Symbol ID 203 shows the Reinvested Dividend of 50 shares of ACS1 is $10

 

You can cancel this action with the Undo Button in the trade tab. 

 Why do we add shares to an account?
There are times when you want to add shares of a security from an account without affecting your cash balance. For example, you may inherit shares or receive them as a gift. These transactions are different from Buys, and TradeMax provides you with such a function to better manage your portfolio.

• The cost per share for inherited shares is generally the value of the shares on the date that the deceased died or on an alternative valuation date. When you receive the inherited shares, record the cost per share on that date
• The cost per share for gift shares depends on the value of the shares on the date of the gift and the price that the giver paid for the shares, as well as your sale price if you sell the shares.

Follow the step-by-step wizard to add shares to the account.

1. Select the record to which you want to add the shares.

   Learn more about: How to select trade records.

2. Right-click the selected record and select the Event Append in the context menu, then choose Shares Added to Account in the dropdown list
3. A dialog box will pop up:
4. Type the information into the box:
   • There are two kinds of transaction in the dropdown list: Shares Added to Account and Shares Removed from Account. The default Transaction depends on your location in previous step
   • Select the Transaction Date with you mouse or enter with you keyboard
   • Account is the account to which the selected record belongs .
   • Security Name is the name of the security you selected. You can select security name from the dropdown list. If the security name didn’t exist in the dropdown list, you can selectto add a new one through editing the dialog box.Learn more about: Symbol box parameter
   • Enter the number of shares you’re adding.
   • In Notes field, you can enter some description or leave it blank.
5. After checking the information, press OK to continue the process. You will see the following grid:As you see from the picture, the new record is generated automatically.
6. You can cancel this action with the Undo Button in the trade tab.

 

 Why do we remove shares from account?
There are times when you want to remove shares of a security from an account without affecting your cash balance. For example, if the security has been privatized, these transactions are different from Sells, and TradeMax provides you with such a function to better manage your account.

Follow the step-by-step wizard to remove shares from the account.

1. Select the record from which you want to remove the shares.

   Learn more about: How to select trade records.

2. Right-click the selected record and select the Event Append in the context menu, then choose Shares Removed from Account in the dropdown list
3. A dialog box will pop up:
4. Type the information into the box:
   • There are two kinds of transaction in the dropdown list: Shares Added to Account and Shares Removed from Account. The default Transaction depends on your location in previous step
   • Select the Transaction Date with you mouse or enter with you keyboard
   • Account is the account to which the selected record belongs .
   • Security Name is the name of the security you selected. You can select security name from the dropdown list. If the security name didn’t exist in the dropdown list, you can selectto add a new one through editing the dialog box.Learn more about: Symbol box parameter
   • Enter the number of shares you’re removing
   • In Notes field, you can enter some description or leave it blank.
5. After checking the information, press OK to continue the process. You will see the following grid:As you see from the picture, the new record is generated automatically.
6. You can cancel this action with the Undo Button in the trade tab.

 

TradeMax supports any broker only if it can supply files containing your trades. You can also import CSV file, text file (tab delimited) or QIF file into TradeMax The following is a step-by-step guide to explain the importing data procedure.

Section 1 Download Your Data File

TradeMax provides you a powerful way to import your data file from your hard drive. First, you need download your data from your online broker or export the data from Microsoft Money, TradeLog or Quicken etc.

In this section, you will know how to download your data file to your hard drive.

Section 2 Import Data File into TradeMax — Import Trade

This section help you to import your data file into TradeMax from your hard drive.

Appendix:

• Download Data From E*Trade
• Download Data From Interactive Brokers
• Download From ScotTrade
• Download From SogoTrade

 

 

TradeMax provides you the facility to Import data from more advanced formats majority of the brokers support. You can import Quicken, Tradelog, or Text files etc. These transactions can later be managed from your desktop.

The importing process is also a profile setting process. It provides you wizard to filter the useful trade data, match the data, and then generate a TradeMax data format for the following tax purpose calculation.

Note:

1. The file could be the following type extension: *.csv, *.txt, *.xls, *.qif, *ofx, *.qfx, *tdf.
2. You can Undo or Redo the importing action by Click the icon in the Quick Access Toolbar

Trade Import Process

Step 1: Import File And Import Trades from Brokerage Account

Step 2: Map Actions

Step 3: Map Types

Step 4: Symbol Validation

Step 5: Trade Record Preview

If you have created a new broker account and located a compatible trade history report from the online broker’s web site, the next step is to import trades into TradeMax.

The import function is available under the Account List: Right-click the account which you want to import your data and select the Import Trade.

Then the Select Import File And Profile dialog box will popup. TradeMax provides a step-by-step wizard to guide you through the rest of the process.

Step 1: File Import And Import Trades from Supported Brokerage Account

There are two options for you choose to import your data.

Option 1 :  File Import （If you already have backed up trade data in your computer, just choose File Import Option in Mode Filed.）

Option 2 :  Import Trades from Brokerage Account (If you want to download trades from online brokerage account, select this option)

The following dialog box is used to select a profile to import the data into TradeMax. You can also create a new profile and save the profile settings and re-use it to import a similar file. In addition, you can edit an existing profile as per requirement.

Option 1 : If you already have backed up trade data in your computer, just choose File Import Option in Mode Filed.

Function	Description
Account	Select an account to import your data
Trade Range	Automatically display the date range of existing trades in the current account
Import File	Select data file from your computer
Mode	If you already have a user name and password of the selected account, select I want to connect to ***. I have a *** user name and password.
	If you have trade data in your computer, please select I want to import data from local file.
Auto Assign Short	If this function is activated, whenever TradeMax imports a sell before a buy for a symbol with no shares currently open, the trade will be recorded as short. Note: You shouldn’t select Auto Assign Short if you did not Enter the Baseline Positions or Include the Baseline Position. In this case, the TradeMax will assign the close long transaction as an open short transaction.
Convert Short to Long With One Transaction	If your online brokerage accounts allow the conversion of an open, short position to an open, long position with a single buy transaction (and vice versa). You can activate Convert Short To Long function to allow TradeMax to make the necessary adjustments during the import process. TradeMax will automatically split up the single “buy” transaction into two - one to close the short position, and another to open up a new long position.
Include Baseline	If you have already appended baseline position, you will need to select the checkbox and enter your specific tax year or select it with the arrows at the right side

Click Next to make furthering settings.

Function	Description
Profile	Preset import profiles for importing trade data. With the default profile, you can skip Step 3 and Step 4 Profiles Options: 1.Broker Profile: ScoreTrade, Interactive Brokers, E*Trade and so on 2.File Profile: Quicken Interchange Format(*.QIF), TradeLog(*.TDF), Open Financial Exchange(*.OFX), *.csv, *.txt, *.xls, *.qfx. 3.Profile Wizard: Setup a temporary profile or replace it with specific one to setup a new profile which can be re-used to import a similar file Default is : Broker Profile like ScoreTrade; Quicken Interchange Format(*.QIF), TradeLog(*.TDF), Open Financial Exchange(*.OFX)
Type	Select data file type
Record Separator	A single character or a regular expression, controls the way TradeMax scans the imported data file. TradeMax scans the imported file for character sequences that match the separator.	Controls the way TradeMax splits the imported file into records. Options: 1.^ : Normally used for QIF files 2.Line Feed : Default record separator for most files Default is : Line Feed
Field Separator		Controls the way TradeMax splits an input record into fields. Options: 1.Most used Separator: Comma, Tab 2.Other Separator: Double Quote etc. Default is : Comma
Text Qualifier		Controls the way TradeMax splits an input Field into text. It selects the character that encloses values in your text file. Default is : ‘ and “
Has Column Header	If there is a column header in your imported file, you will need to select the checkbox
Import File	Select data file from your computer

1. Press the Import file button. Import Trade dialog box opens where you can browse and select your desired file.
2. Select or setup a specific profile
   1. Select a profile
   2. The options from the dropdown list are:
      • Previous user defined or system defined profile, for example, SocreTrade. If you select this option, you skip Step 3 and Step 4 of the importing process.
      • You can also setup and save a new profile by entering a new profile name to replace the <Profile Wizard >.
3. Select Record Separator from its dropdown list.
4. From the Field Separator dropdown list, scroll through the list to find the exact one according to the imported files.It can be one of the defined separators: Comma, Double Quote, Single Quote, Space and Tab.
5. You can use the default setting in Text Qualifier and you also can enter the new one according to your imported files.
6. Select the Has Column Header checkbox according to the files you imported
7. Click Next to the next step.

Step 2: Map Actions

In this step, you are allowed to change transaction Action types suggested by TradeMax.

1. Click on the Action column and select the desired option from the list to match the action listed under ActionName heading.
   • When refer to the action Buy and Sell, you need to be sure every trades action. For example, ONLY IF you can sure that in the data file every BUY is open a long position, you can select the O/L to map with the buy. Otherwise, TradeMax will give you a suggest action and you should check each trade action in step 4
   • On the dropdown list: O/L represents open long position; C/S represents close short position; C/L represents close long position;O/S represents open short position; W/S represents wash sales short position; W/L represents wash sales long position.

Note:

2. Press the Back button, if you want to change previous setting or click on Next button to go to next step.

Step 3: Map Types

Check your stock type in this step.

1. From the dropdown list under the Symbol type , you can select the security’s type to match your imported data file.
2. Click Next to go to next step

Step 4: Symbol Validation

Validate your symbol in this step.

1. Select the Type for each symbol from its dropdown list (Stock is the default type)Attention:

   Records can be sorted in ascending or descending order by clicking on any column header.

2. Enter the Underlying Stock, Strike Price and Expire Date etc (You can skip this step if it is not option or future)Attention: You can manually enter the Expire Date or select from its dropdown calendar.

   Learn more about: How to select the date.

3. Merge to is an option which can merge one security into another. Attention:
   • Symbol # represents that option has expired or been cancelled buy, and the function Merge to enable the option or stock mentioned above to merge to normal one automatically.
   • If the symbol type is option, you need to enter the Underlying Stock, Strike Price and Expire Date. If the symbol type is future, you only need to enter Underlying Stock and Expire Date

   Basic Function
   1	To sort by Symbol Name in ascending order, click Symbol Name in the column header once and there will be up-arrow after Symbol Name. To sort issn descending order, click Symbol Name twice and there will be a down-arrow after Symbol Name. To cancel the sorting, you can click Symbol Name the third time.
   2	Merge to is an option which can merge one security into another. As picture shows: .AUDBU# in above window is an option which corresponds to .AUDBU.in Scottrade, it merges to .AUDBU automatically. If you want to merge it to another specific option, you can manually enter the name of the specific option OR select from the dropdown list.
   3	Underlying Stock is the stock on which an option is written, giving the option holder the right to buy or sell.

4. Click Next to go to next step

Step 5: Trade Record Preview

In this step, you will have a Trade Record Preview window shows the details of import data. If you scroll down the transaction list, you will see all transactions that TradeMax has concerned will be highlighted in red and green. You need validate and correct these Suspected Transactions (red one) before you proceed. In addtion, the Error Trade(s) dialog box will ease your task.

Basic Function
1	Trade Record Preview dialog box
2	Records can be sorted in ascending or descending order by clicking on any column header. Click on the header once to get the up-arrow to show that records be sorted in ascending order.
3	Click on the header twice to get the down-arrow to show that records be sorted in descending order.
4	Check Action with the ActionName in the Action column. From its dropdown list to select the right one.
5	Columns can be resized by the user by positioning the mouse cursor over the line between the columns in the column header row, holding down the left mouse button and dragging the line to the desired location.
6	If you don’t want to import the trade transaction, you can uncheck the import it check box which locate at the end of the trade record.
7	Red records indicate the error transaction:1) A Sale to Close, a Buy to Cover, and Exercise, Assign, Expire or Journal Out as the first transaction for any symbol; 2) Sequence error; 3) Missing/Inconsistent Data fields by using Qty, Price, Commission, Fees and Rate information. The error transactions will display in the right Error Trade(s) dialog box.
8	Green records indicate the closed transactions which closed (A Sale to Close, a Buy to Cover ) all your holding open position.
9	Same day transactions.
10	Click it to expand the item.
11	Click it to collapse the item.
12	Select the check box to reverse the same day transctions.
13	Scan the status of transactions in the imported data file and and the concerned trades will be highlighted in red or green.
14	Reconcile the sequence of the transactions in the same day. It can be activated by select the same day transactions.
15	Error Trade(s) dialog box. If there is no error trade, the box will be hidden.
16	Error trade records. Click it to go to the specific error record in the Trade Record Preview dialogue box.

1. Click the error trade record to go to the specific error record in the Trade Record Preview dialogue box.
2. Check the Action and ActionName and select the right one from its dropdown list
3. Press the Rescan button to rescan errors. If it does have, repeat the above two steps to remove the error.
4. Select the import it column checkbox to import that transaction
5. Click Finish to complete the whole importing process. You can verify the previous setting by clicking the Back button. In addition, you can also cancel the data importing with the Cancel button.

Tips:

• For a more accurate gain/loss report, we suggest:
  1. Click the TradeDate column header once to show the records be sorted in ascending order
  2. Check the Action and ActionName transaction by transaction and select the right one from its dropdown list
• TradeMax can automatically recalculate the missing or inconsistent data fields found in the file to be imported by using Qty, Price, Commission, Fees and Rate information.