Handle your wash sales and generator your Schedule D

Q)How to import TradeMax TXF file into H&R Block TaxCut ?

With TradeMax, you can export your gains and losses to popular tax software programs with the TXF Export function.Here we will provide you with a step to step wizard to show you how to export your TXF file with the TXF Export function

For example, if you want to export the FY2008’s G & L Report to TXF file, you can do the following:

1. Right click the folder FY2008 under the Trade Bar and select the TXF Export from its context menu:
2. Following dialog box will pop up:
   
3. Select the path & File name to save your TXF file.
4. Press Save button to finish the process. Now you can find your TXF file in your selected path.

To import txf file from TradeMax to H&R Block TaxCut ,You should use follow step

H&R Block At Home imports your personal tax and financial information from last year’s H&R Block At Home, Microsoft Money (Windows only), Quicken, and last year’s TurboTax (software) federal return.

If your information is in a .txf file, H&R Block At Home will also import other financial programs. To import financial information from a .txf file: Open Taxcut or H&R Block At Home, depending on which version of the program you use.

1. Click File in the top left corner of the screen.
2. Choose Import Financial Information.
3. Click Browse on the Import Financial Information window.
4. Select your file to import.
5. Click Import Selected File and Select the “TXF” file you created. This will import your tax files  to Taxcut.
6. To review your imported financial information, click the Reports menu and click Review Financial Imports.

if you start a new tax return, please select “Welcome” and then “Smart Import” and follow the steps below.

1. Import Data from Financial Software
2. Select Financial Program infomation from ”File” menu
3. Other Financial Program and Import TXF file
4. Import Individual TXF Files
5. Choose a TXF file to Import

Click on the “Next” button.

In “Select Financial Program” Dialogbox,Select “Other program that supports Tax Exchange Format (TXF)“,Click on the “Next” button.

Click on the “Import” button.

Choose a .txf file you want to import.

click “next” button,you could select the imported txf file.

Click on the “Import Selected File” button

TradeMax® is a trade accounting software for day trading.It designed for active trader for its great capacity to support unlimited number of trades(stock,future,options,bonds, Commodities, Fund, Currency), also breezes normal traders with its function to auto-generate various reports from several accounts.

TradeMax 2013 supports more brokerage accounts than 2012, especially those popular brokers from which trade data can be directly imported. TradeMax also provides multiple easy and convenient options for users to import their trade data into TradeMax, users can either import trade data from local file(*.xls,*.csv,*.txt) or import directly from online brokers, or just copy the transaction history from the brokerage then paste to TradeMax’s clipboard

As your transactions are imported, profit and loss of each trade is automatically calculated for the entire year for day trader. Neutral Trend’s TradeMax® 2013 provides you with a powerful filter function to filter your trade data. It also allows user to add   various reports in TradeMax

TradeMax 2013 provides users with easy steps to generate Daily Account/Portfolio Value Chart Report or Mark to Market Gains & Losses Pie report for the purpose of better investing , Daily Account Value chart report helps you to compare your current Account Value with other index(DowJones,S&P500) and analyze trade performance based on the detailed information on daily basis, while the Gains & Losses Pie reports give you a concise or summarized information about the gains or losses of selected securities during a specific fiscal year or a set time period.

TradeMax® 2013 processes corporate events that affect cost basis or Capital Gains Tax for the Schedule D(Form 1040) and keeps track of cost basis adjustments due to corporate actions like splits, spin-offs, and mergers. By using this feature, investors can view all of their transactions that have occurred in this particular symbol such as Return of capital, Reinvested Income and Dividend paid on Short Sales which will provide them with the facility to conduct transactions more accurately and adjust their trade for tax purpose by maintaining the trade history.

Q:I come from a country where forex is treated the same as stocks for realized gains purposes.

I have not been able to find a way to include forex trades in the Realized Gain/Loss Report.Is there any way to do it in TradeMax?

A:In TradeMax, Forex trade should be reported on Sect.1256 Report( Mark to Market as default)

You also can use blacklist function add the forex data to the realized gain/loss report.

This value(1099 Gross Sales) allows you to reconcile the Total Sales amount in TradeMax to your brokerage provided 1099-B Gross Sales amount and shows any necessary adjustments to the TradeMax Total Sales such as for open short sales and option sales.

1. After you download the price of the security in a set time range, select the specific finance year (.i.e. FY2006) under the selected account,then click Trade Data& Report < Add Report < Daily Account Value.
   
2. The Daily Account Value option will automatically add to the sub-menu under Trade Data & Report.
   
3. In Daily Account Report,there will a lot of Statistics information under chart report.
   Include 1099 Gross sales Value,short open position total sales,
   Short Term Total Sales,Long Term Total Sales
   Start Date Market Value,End Date Market Value,Max Account Value Drop Down
   Realized Total profit,Average Profit per trade
   Realized Total Loss,Average loss per trade
   Realized net profit,Average net Profit per trade
   Mark to Market Total profit(loss),Mark to Market Average Profit(loss) per trade
   
   

TradeMax™ Ver 2012, inheriting the features of version 2011, perfects its functions by expanding its Calendar Module, Portfolio Beta Calculator Function.

Calendar Module —With Trademax calendar view, transactions can be viewed by month or by week. This helps you to visualize when transactions occur each month.You can use Day View, Work Week View, Week View or Month View to check the transactions record for a certain period.


Portfolio Beta Calculator — Portfolio Beta model shows the risk-adjusted return of the portfolio and that of the index over a time period in the past.This model also includes options trading strategy evaluation function which can give you a graphic reporting on specific options spread trade strategies, specificallybutterflies, calendars, iron condors, and their adjustments.

Our software checks the option transaction and its strike price. If there is an option exercised/assigned and the underlying stock has buy/sell actions on the same day, the strike price matches stock purchase price, and quality matches, plus, there is no commission fee charged on stock transaction and option transaction, TradeMax will recognize it as option assigned/exercised. TradeMax will  also adjust the option cost into the underlying stock cost basis.

In some cases,when the broker’s stock purchase dates are not the same as option exercised dates,TradeMax will not adjust the cost basis to stock.

—————example————————————————–
2393    CHLN    Stock    1:1            CHLN        11/20/2009 Long   YQO-KZ exercised @ 11/20/2009    1000    $2.50    $2.50    $2.50    $0.00        $0.00    $-2500.00    $-2500.00
2390    YQO-KZ    STK Call Option    1:100       11/21/2009 Exercised    YQO-KZ exercised @ 11/20/2009    10
———————————————————————–
You should adjust option Exercised  day to 11/20/2009

TradeMax™ Ver 2011, inheriting the features of version 2010, perfects its functions by expanding its Graphical Reporting module, Import Wizard Module and Multiple currency Accounting capability.

Daily Graphical Reporting —TradeMax 2011 provides users with easy steps to generate Daily Account/Portfolio Value Chart Report or Mark to Market Gains & Losses Pie report for the purpose of better investment , Daily Account Value chart report helps the users compare your current Account Value with other index(DowJones,S&P500) and analyze trade performance based on the detailed information on daily basis, while the Gains & Losses Pie reports give the users a total or summary information about the gains or losses of selected securities during a specific fiscal year or a set time period.

Neutral Trend Inc. is pleased to announce that they will offer a free registration code of TradeMax® 2011 Basic free  edition to the fans of their twitter and Facebook to commemorate their 3rd anniversary of TradeMax brand launching.

TradeMax®, a brand launched 3 years ago, is a full featured tax software specially designed for active traders to manage their portfolios(Portfolio tracker) who have single or multiple accounts. It also provides normal traders with features to calculate wash sales  scenarios and auto-generate a Schedule D or Mark to Market Form 4797 within seconds.

TradeMax™ Ver 2011, inheriting the features of version 2010, perfects its functions by expanding its Graphical Reporting module, Import Wizard Module and Multiple currency Accounting capability.

“This will be the first free Wash Sale software(free wash sale calculator) which generates Schedule D form in the market.” Neutral Trend said. “We noticed when the tax season is coming, many users consume tremendous time to prepare Schedule D form, especially there are Wash Sale trades involved. We are trying to help.”

——-This offer will expire on July15th 2011 ———————
regname:trademax20110417b
regcode:000016-00MBBZ-MPX5Y5-K2YCBW-FJ3H32-3AGVXX-3ZNHPY-J53X8V-Z2YY8M-YR21EV
———————————————————–

TradeMax® is a feature-rich software and it is very easy to use. We encourage user to review our flash demo at http://www.itrademax.com/demostration/key-features.htm, User can access our online tutorial section at http://www.itrademax.com/ipress/quick-start/online-tutorial.htm.
The key features of TradeMax® 2011 Basic edtion include the following:

• Track your trade
• Record various corporate events such as stock split, merge, spinoff, reinvested capital
• Auto-detect assigned, exercised and expired option, defer cost to corresponding shares
• Auto-identify 21-character new OIS option symbol
• Auto-convert the foreign transaction (Non-USD) into USD figures
• Download price history of securities for your comparing.
• Monitor your capital gain easily
• Setup and Combine different accounts to monitor your capital gains
• Filter items you don’t want in Black list
• Run various reports (Up to 13) to monitor your capital gains and losses.
• Calculate various complicated Wash Sale scenarios accurately.
• Prepare schedule D
• Support importing trade data from most common-used brokers directly or the downloaded data in various formats.
• Use strict FIFO trade matching as a default method
• Force-Match specific trade transactions
• Assign short trade, convert short / long position
• Basic Edition Support 200 transaction records per year.

All TradeMax® 2011 products are available today

Company web-site: http://www.itrademax.com

Direct download link: http://www.itrademax.com/download.htm

Most of the new features in version 2010 relate to expanded corprate event module and option cost basis auto adjustment and Reporting capability, especially when it comes to tax reporting.  There currently is no other trader tax software that comes even close.