Option 3: Import Realized Gains and Losses Report from Local File

Realized Gain and Loss Report displays trade details of the selected account’s short-term and long-term gains, short- and long-term losses, and wash sales, as defined by the IRS, grouped by security for the selected tax year.

If you already have Realized Gain and Loss Report, TradeMax can help you to import it directly from the local file with the following step-by-step wizard.

Please Note: Some Gains & Losses Report do not have year end open postion,this will effect wash sale calculating.

  1. Click Import Tab in trade panel, and select the Import Trade from dropdown list.
  2. A Select Import Data Source window pops up, select Import Realized Gain and Loss Report from Local file. Click Next button.
  3. Select Profile and Import File dialog appears as below.Note: The Realized Gain and Loss Report data file will be in XLS format, please select Profile Wizard(*.xls) the Profile Name dropdown list.
  4. Function Description

    Profile

    Profiles Options:

    Default is : Profile Wizard *.xls

    Type

    Select TXT or XLS data file.

    Default is : XLS

    Has Column Header

    If there is a column header in your imported file, you will need to select the checkbox

    Import Sample Files

    Follow linked documents contains sample trade data that you can download to practice or use as templates for importing transactions into TradeMax.

    Short Transacton Detection

    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 Short Transacton Detectionif 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

    Buy to Cover Long Transaction Detection

    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 Buy to Cover Long Transaction Detection 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.

    Import File

    Click File Browser Button to select data file from your computer.

  5. Click Next, a Trade Data Review Dialog Box pops up:
  6. If the realized Gain and loss report has report description or report title displayed in the initial parts, TradeMax might not find these column headers or titles, but if you enter any related key words in the blank sheet behind Has Column Header, TradeMax can auto-identify these column headers.

  7. Click Next and Map Fields window opens.
    Users can check the box on the left side of Show Mapping Result to display or hide Map Result Grid.
  8. Click Next, and the Map Actions pops up.
    In this step, you can map your data by assigning or mapping the column header. (With the default profile, this step will be skipped.)
  9. Click Next to open symbol Validation window.
  10. Click Next to go to next step.
  11. Click Finish Button, a File Save As dialog box appears to give the users facility to setup the profile as a new one in profile list for you to import trade more easily.
  12. Click OK button to next step, the trade data is imported.