Detailed Instructions |Form 8949 Capital Gain & Wash Sales calculator software

Combine Accounts


TradeMax provides you a powerful way to combine different accounts. For example, it allows you to combine your accounts from different brokers and combine the accounts between you and your relatives only if you setup the accounts in TradeMax.

Let’s take an example to show you how to combine accounts:

You want to combine the account ScoreTrade Jones and SogoTrade Rachel in the Account List.

  1. Right-click the item My Broker(s) in the Account List and select the Add View> Custom

  2. A Dialog box pop-up:

  3. Enter the name Jones & Rachel , use the Arrow button between the All account(s) list and the Select Account(s) list to select the combining accounts ScoreTrade Jones and SogoTrade Rachel into the Select Accounts box.
  4. Click the OK button and you will get the new combined account Jones & Rachel under the Account List like the following:

Edit an Account


TradeMax also allows you to edit an existing account with the following instruction:

  1. Right-click the account you want to edit (for example, ScoreTrade Jones) and select the Edit Account from its context menu:
  2. A pop-up window will appears:
  3. Edit the information. This box is almost the same as the box in the setup a new account, and you can learn more in the setup a new account.

Delete an Account


TradeMax allows you to setup an account, combine accounts and it also allows you to delete a specific account.

  1. Right click a specific account ( for example, ScoreTrade Jones) and select Delete Account in the context menu.

  2. pop up the following dialog box

  3. Type in delete to delete the account.


    Note: Delete an account will delete all data in that account.

Append a Trade


To append a trade, please follow these steps:

Step 1: Run TradeMax and go to Account.

Step 2: There are 3 methods to append a trade:

a. Click Append button in Trade tab, then click Trade Append. A dialog box will pop up.

b. Right click on the trade window. A menu will pop up. e.g.: Choose Trade Append>Buy to Open (Open Long)

c. Click the Append button. A dialog box will pop up.

Step 3: The popup dialog box allows you to record the purchase of a security below:

    Function

    Description
    Enter Transaction Select Transaction Type.

    There are the following options from its dropdown list :

    Buy to Open –— Buy Stock/Option to Open a Long position

    Sell to Close –— Sell Stock/Option to Close a Long position

    Buy to Close –— Buy Stock/Option to Close a Short position

    Sell to Open –— Sell Stock/Option to Open a Short position

    Default value is : Buy to Open

    Transaction Date Select the trade date
    Account Select the account that you are purchasing shares for.
    Security Name

    Enter the security name manually in the Security Name field or Select it from the Symbol dropdown list.

    Additionally, the entering process supports AutoComplete function which, leads to  pop ups of a list of suggestions to the user based on the characters entered.

    Type Specify the Type of trade transaction. Available choices are: Stock/Option/Future
    Number Of Shares
    For Type of Stock, this field specify the number of shares been traded. For Type of Option, this field specify the hands of options been traded. Normally the value of 1 indicates the option of exercising 100 shares of Stock.
    Orig Currency

    Original Trade Currency type.

    There are seven Currency types in the dropdown list:

    USD, EUR,CAD,AUD,JPY,HKD,GBP

    If you choose EUR,CAD,AUD,JPY,HKD,GBP as Orig Currency, the dailog box will appear an icon , click this button, the dailogbox will extend.

    Base Currency
    Domestic currency type or accounting currency type for accounting purposes. Currently IB allows customer to choose different basis currency other than USD.

    USD Currency
    Settlement currency for tax purposes.

    Price (per share) The transaction price of Stock/Option per share/unit.
    Base Price The share price at Base currency price.
    USD Price The share price at USD Currency price.
    Rate
    “Rate”related to derivative product like option, future. For instance, an option has a 100 “Rate” which means an option contract is for 100 shares of the underlying stock.
    Base Rate The exchange rate Original Currency/ Base Currency.
    Selt Rate The exchange rate Base Currency / USD Currency. Or directly query the Selt Rate in “Currency Exchange”.
    USD Rate The exchange rate Original Currency/ USD Currency.
    Commission
    Enter the commission of the shares. If left blank, the commission will be calculated from the value in the Amount column (providing the Amount includes commissions and fees).
    Base Commission Automatically calculate Base Commission by Commission* Base Rate.
    USD Commission Automatically calculate USD Commission by Base Commission* USD Rate.
    Amount The “Amount” will be calculated automatically since you enter the “Number of Shares”, “Price” , and “Commission”.
    Base Amount The “Base Amount” will be calculated automatically since you enter theBase Rate”.
    USD Amount The “USD Amount will be calculated automatically when you enter the“USD Rate”.
    Notes Enter the description of the transaction.
    Trade Include In Year
    Select the checkbox to activate it and enter the specified tax year.
    Deferred cost If your position is a wash sales defer loss position, just enter your defer cost in Deferred Cost Field.

    Used to enter the deferloss of this appending transaction.

    Click thebutton to cancel the appending process.
    Click thebutton to enter another new transaction.
    Click thebutton to finish the appending process.
    Click thebutton to get more detailed trade transaction.

Step 4: Enter information of this transaction and press the button to finish the appending process.

Note:

When you input Previous Year Holding Position trade, you must activate Trade Include In Year [2008]. If your baseline is 2007, change the year to 2007.

If your position is a wash sales defer loss position, this is a special option of Open to Long (Open Long) or Sell to Close(Open Short) .

Every year there after, you can use End Of Tax Year function to generate your year-end open positions and defer loss to your next tax year data file.

Display Holding Positions


To display your holding positions in a specific date:

  1. Click My Holdings under the Account List
  2. A Position box will pop up

  3. Select your position holding date

    Learn more about: How to select a date

  4. Click OK to display the holding positions



    The positions contains two parts: Open Position and WashSale Defer Position

    Learn more about: Open Long, Open Short

Select Trades


You can quickly select your cells, trades in TradeMax data grid just like you do in other spreadsheet applications

To select Do this
A single cell Click the cell, or use the arrow keys to move the highlight to  the cell  your choice.
A single trade record Click the trade record row heading (row heading: The yellow gray area to the left of each trade record row)
Contiguous Trade Records Drag across the trade record row headings. Or select the first trade record row; then hold down SHIFT and select the last trade record row.
Non-contiguous Trade Records Select the first trade record row; then hold down CTRL and select the other trade record rows.
All Trade Records Select the first trade record row; then hold down SHIFT and select the last trade record row at the bottom of the data grid.

Edit Trades


TradeMax allows you to edit your trade record by editing the parameters of the record. It is so easy, just like you edit a record in any other spreadsheet applications.

With TradeMax, you can,

Note: The multiple trade records should have the same editing parameter

Now we provide you a step by step wizard as follows:

  • Edit a specific trade record

    1. Click trade record row heading to select the specific trade record
    2. Click the parameter cell to activate it and then edit it with you keyboard and mouse

      -OR-

    1. Click trade record row heading to select the specific trade record
    2. Press the Edit button in the Trade Tab or right-click the selected record and select the Trade Edit from its context menu
    3. A dialog box will popup:
    4. Edit the Parameter you want to change and press OK to complete the process

  • Edit multiple trade records at one time

    1. Select the records you want to edit in the Grid
      Learn more about: How to select trade records
    2. Press the Edit button in the Trade Tab or right-click the selected records and select the Trade Edit from its context menu
    3. A dialog box popup:
    4. Edit the Parameter you want to change and press OK to complete the process
    5. Then the multiple records will have the same edited Parameter

Delete Trades


If you find duplicated records in the data grid, TradeMax allows you to delete them with just a few clicks, as follows:

  1. Select the records you want to delete in the Grid
    Learn more about: How to select trade records
  2. Press the Delete button in the Trade Tab
    -OR-

  1. Select the records you want to edit in the Grid
    Learn more about: How to select trade records
  2. Right-click the selected records and select the Trade Delete from its context menu

Import QIF file into TradeMax


TradeMax provides you the facility to Import data from more advanced formats which a majority of the brokers support. You can import Quicken(*.qif)  or Text files etc.

The importing process is also a profile setting up process. It provides you with a wizard to filter the useful trade data, match the data, and then generate a TradeMax data format for the following tax calculation purpose; here is the wizard to import QIF file into TradeMax step by step

  1. Export the trade data in quicken: After you ran Quicken, select File> Export> QIF File, then follow the instructions in Quicken software to store QIF file into your desirable directory.
  2. Run TradeMax, select the account into which you want to import QIF data.
  3. Right click the selected account, and select “Import” , the following dialog pops up.
    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, 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
  4. Select I want to Import Data from Local file and make furthering settings, click Next to display the window below:
    • Select Quicken Interchange Format(*.QIF) from dropdown list in Profile Field.
    • Type, Record Separator, Field Separator, Text Qualifier are the default QIF forms.
    • Select data file from your computer
  5. Click Next to the next step.

Download Data From E*Trade


E*trade provides you two methods to download your trade records to your computer:

To download tax documents of an entire year:

  1. Log into your E*TRADE account .
  2. Click Accounts tab and then select Account Records.
  3. Select Tax Reports in the Brokerage Account Records section.
  4. Click the Tax Records tab and then left-click Export your 200X trades into Microsoft Excel.
  5. Click the Save button in another pop-up File Download dialog box.
  6. Open your saved file in Excel, and click File then choose Save As.. In its drop-down-list to save the data file as CSV format.
  7. Your downloaded file must be in this format as shown below.
    TradeDate
    Order Type
    Security
    Amount
    Cusip
    Transaction Description
    Quantity
    Executed Price
    Commission
    Net Amount
    3/8/2009
    Buy
    CROX
    -4272
    227046109
    CROCS INC
    1
    0039KSPT
    12.99
    1162.99

    The data in the above table is E*trade 2009 format, and the following table will display the  E*trade 2010 format:

    Transaction Date
    Transaction Ty
    SecurityTy
    Symbol
    Quantity
    Amount
    Quantity
    Price
    Commission
    Description
    12/22/09
    Bought
    EQ
    CIM
    5000
    -19407.49
    38799
    7.99
    0
    CHIMERA INVESTMENT

    If you find the downloaded file format is different from the above two formats, you should set your profile in Profile Wizard.

  8. Run TradeMax , click E*Trade Account in TradeMax to import trade from local file.Note: You should select E*Trade *. csv, *. txt as your profile name during the importing process. As the file data formats vary from year to year, and in the drop-down-list of Profile Name, apart from E*Trade *. csv, *. txt, there is another option, E*Trade 2008 *. csv, *. Txt, for the users to choose, according to their data file in different year. The default is E*Trade *. csv, *. txt.

Download Transaction History within three months to update your trade data(Quicken Format-QFX) Recommend

  1. Log into your E*TRADE account.
  2. Click Trading & Portfolios > Transaction History.
  3. Click the Transactions tab, select your Brokerage account and then click the Search Transactions button
  4. Enter the specific time range.Attention: You may download up to three months’ worth of data from your account.
  5. Select .QFX format in the data format field and click Download.
  6. Choose the Save option.
  7. Run TradeMax and click E*Trade Account in TradeMax to import trade activity data from local file. Note: You should select Open Financial Exchange *.ofx, *.qfx as your profile name during the importing process
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