Handle your wash sales and generator your Schedule D

TradeMax offers a simple and clean solution to run report for your tax and analyzing your trading performance purpose.

Before you run a report, you need do the following step:

• Enter Your SSN and Name (DO NOT SKIP THIS STEP)

• Set WashSale Calculation Rule

• Bulider a Black List to filter information to be displayed in specific report

• Add a Report to Account List

• You can also filter your data with the Time Range Filter above the data grid befroe run your report (Optional)

Enter Your SSN and Name

1. Click the Main Button on the upper left concern of the Trade window and press the Option Button
2. A dialog box will pop up:
3. Enter your name and SSN and your name will appear on your upper left section in the running report
4. You can click the checkboxes to:
   • Make the Exercised/ Assigned securities’ Buy/Sell price same as the strike price of option.
   • Auto-Expire unexercised/ unassigned options at 0 price on expiration date
   • Auto scan the trade errors.
   • Update your TradeMax software when running TradeMax each time.
5. If you want to upback TradeMax data, click to view the directory of the database.
6. You can also change the SSN by redoing the above step 1 & step 2

The following will show you how to Add a Report to Account List

TradeMax provides two options to generate the report:

Option 1 : Click the Report Button in Trade Panel.

Option 2 : Select the specific report from the right menu of Trade Data.

Option 1 : In order to simplify the process of generating reports, you can click the Report Button (shortcut button) in Trade Panel. the following will tell you how to generate the report by clicking the shortcut button.

1. Click the Report Button in Trade Panel.



2. The Report Wizard dialog box pops up:

   

   • Select the specific account that you want to generate the reports from dropdown list.
   • Select the specific Finance Year that you want to generate the reports from dropdown list
   • Select the specific report you want to run from the dropdown list. After you select the specifc report, the specific report icon will be auto-generated under Trade Data diretory.

   Note: Please use End of Tax Year function to generate baseline position or Enter Your Year End Baseline Position before generating the reports, otherwise the results will be inaccurate!

Option 2 : You also can generate your reports by clicking the specific report icon under Trade Data direcoty after you select it from the right menu of the Trade Data

1. Right-click the Trade Data view in the Account List and select the specific report.
2. Right-click the Trade Data view in the Account List and select the specific report.



3. You will see the selected report under the Trade Data view like this:As you see, there are a dozen reports:
   1. 1099 Reconciliation report - This report 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.
   2. Cost Basis Transaction Report -This report is for those users who track the cost basis in stocks, bonds and mutual funds to report a cost basis when an investment is sold.
   3. Daily Market Value Report - This report is for those users who track the performance and market value of the securities on daily basis in specific finance year. The report will show the portfolio of every transaction on daily basis.
   4. IRS Schedule D-1 - This report is for those users who require a more exact replica of the IRS form.
   5. Mark to Market
      Detail Report - This report is for those users  want to record the price or value of a security, portfolio on a daily basis to calculate gains and losses or to confirm that margin requirement are met.
   6. Mark to Market For Form 4797 - -This report is for traders in stocks, options and single-stock futures who elect mark-to-market accounting to report their trading activity on Form 4797
   7. Realized Gain/Loss Report - This report is for those users who require trade transaction detail. Such as Security, Quality, open price, Open date, Open Commission, close price, close commission, sales price, cost basic, Actual gain &lose for each transaction. Moreover, it can be grouped by ID, Symbol, or TradeDate.
   8. G& L Report - This is the default report created by TradeMax for filing with Taxes.
   9. SummaryReport - Display or print a trade summary report. This valuable summary or aggregation of an entire ID or Symbol allows a user to see how one Symbol performed versus another
   10. Transaction Detail Report - A report display all trade detail. This report lists each and every transaction as displayed in the grid. Additionally, the profit or loss can be summed by Trade Number, Ticker, or Date.
   11. Unrealized Gain/Loss Report - This report is for those users who  want to get the information of Gain/Loss when the price of the securities decrease or increase after buying, but he or she has yet to sell it.
   12. Wash Sale Detail Report- This report allows you to analyze your disallowed wash sale losses that have been deferred to next year
   13. Section 1256 Report - This report is for those users who want to get the information of Unrealized Gain/Loss amount and 60% long term amount and 40% short term amount auto-calculated by TradeMax as an attachment to Section 1256 contract.

   Notes:

   Unregister edition will pop a register remind dialog box when you run the report:

   
   • You can register your TradeMax by entering the Registration Name and Registration Code and press the Register button
   • You can also click Buy Now to buy the Registration Code
   • A free trial version can only generate report from a data range 1/1 to 6/30 and can’t export to pdf and excel.

This report 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.

Now, we will show you how to run a 1099 Reconciliation report:

1. Click the item 1099 Reconciliation report
2. A dialog box will pop up
3. Enter your brokerage provided 1099-B Gross Sales amount and press the OK button to display the 1099 Reconciliation report. The following is the main part of the report

   You have to make sure that the Difference in the lower right should minimal. Otherwise, you should verify you transaction one by one with your brokerage monthly statements.

 

 

G& L Report - This is the default report created by TradeMax for filing with Taxes.

Now, we will show you how to run a G&L Report:

Click the item G&L Report in the Account List, you will get the following report preview



Basic Function
Short Term Capital Gain & Lose	Display the all short term Transaction with wash sales and the Total G&L
Long Term Capital Gain & Lose	Display the all long term Transaction with wash sales and the Total G&L
Total Wash Sales Defer to Next Year	Display the amount of defer wash sales to next year

 

 

 

IRS Schedule D-1 - This report is for those users who require a more exact replica of the IRS form.

Schedule D-1 of Form 1040 provides additional space to list short and long-term capital gains and losses. Schedule D requires taxpayers to list their short and long-term capital gains and losses. However, it may not provide enough space to list all applicable transactions. This schedule allows taxpayers to include all qualifying transactions. The date of each transaction and the purchase and sale price of each security should be included.

Now, we will show you how to run an IRS Schedule D-1:

Note: Please enter your Name and SSN before run the report with the Option button in the Main Button.

Click the item IRS Schedule D-1 and you will get a report just like the IRS form.

SummaryReport - This valuable summary or aggregation of an entire IDor Symbol allows a user to see how one Symbol performed versus another.

Now, we will show you how to run a SummaryReport:

Click the item SummaryReport, you will get the following report:

Mark to Market Detail Report -This report is for those users  want to record the price or value of a security, portfolio on a daily basis to calculate gains and losses or to confirm that margin requirement are met.

Mark-to-market (MTM) accounting enables a trading business to change the tax status of their earnings from capital gains/losses to ordinary income/losses, thereby avoiding the $3,000 capital loss limitation and the wash sale rule.

The following will tell you how to run a Mark to Market Detail Report

1. Click the item Mark to Market Detail Report, you will get the following window:



After you press Download button, the price of the holding securities at the end of specific finance year will be downloaded. (For example: we choose the transaction data in FY2007, TradeMax downloads the price of the holding securities on last day of FY2007.)

2. After downloading the price of the holding security, Mark to Market Detail Report is generated as below:
   

   Basic Function
   1	Report data information including Data Source, Create Date, Tax Payer and Page of Total
   2	Display the detailed information for all transactions in the current account and current period under Mark to Market Accounting method.
   3	Display the Mark to Market Detail Report Actual Gain & Loss Amount

   The following grid give a detailed introduction about the report .

   Function	Description
   1.Symbol	The security name
   2.Open Date	The purchase date of the security
   3.Action	Action name in TradeMax
   4.Quantity	The shares of security you purchase
   5.Open Price	The original security price
   6.Close Date	The date when you sold the security, if you haven’t sold the security before the end of specific year, Trademax will treated it as the last day of the year for the transaction is under Mark-to-Market method.
   7.Close Price	The security price on Close Date
   8.Acquired Amount	The Amount auto-calculated by Quantity of the security* Open Price
   9.Sold Amount	The Amount auto-calculated by Quantity of the security* Close Price
   10.Gain & Lose	The Amount auto-calculated by Sold Amount – Acquired Amount

Mark to Market for Form 4797 Report -This report is for traders in stocks, options and single-stock futures who elect mark-to-market accounting to report their trading activity on Form 4797

Under the mark-to-market method, all securities that you hold at the end of the year are treated as if they were sold and repurchased on the last day of the year; they are “marked to market” for tax purposes. All trading activity should be entered under Section II of Form 4797, Ordinary Gains and Losses.

MTM traders are required to price all open positions to year end market prices, therefore all positions are held for one year or less and are considered “short-term”.  Gains or losses from marking to market securities and commodities held at the end of the tax year are considered “ordinary”, so these are reported on Part II (Ordinary Gains or Losses) of the Form 4797.

Simply enter the Gains and Losses report totals to Part II, Line 10, columns (d), (f) and (g) on the Form 4797.  Put a note in column (a) (Description of Property) as follows:  “Trader - see attached“.

The report should be printed and attached to the official IRS Form 4797 for tax filing.

The instructions for Form 4797 Line 10 states:

Report on line 10 all gains and losses from sales and dispositions of securities or commodities held in connection with your trading business, including gains and losses from marking to market securities and commodities held at the end of the tax year.

• Attach to your tax return a statement, using the same format as line 10, showing the details of each transaction.
• On line 10 of Form 4797 enter “Trader - see attached” in column (a) and enter the totals from the form 4797 attachment in columns (d), (f), and (g).
• Separately show and identify securities or commodities held and marked to market at the end of the year.

The following wizard will show you how to run a Mark to Market for Form 4797 Report.

1. Click the item Mark to Market for Form 4797, you will get the following window:



After you press Download button, the price of the holding securities at the end of specific finance year will be downloaded. (For example: we choose the transaction data in FY2007, TradeMax downloads the price of the holding securities on last day of FY2007.)

2. After downloading the price of the holding security, Mark to Market for Form 4797 Report is generated as below:
   

   Basic Function
   1	Report data information including Data Source, Create Date, Tax Payer and Page of Total
   2	Display the descriptions and gain and loss for all transactions in the current account and current period under Mark to Market accounting method.
   3	Display the Mark to Market for Form 4797 Report Total Amount of Acquired amount, Cost or other basis, and Gain & Lose.

   The following grid give a detailed introduction about the report .

   Function	Description
   a).Description of Property	The information of the security
   b).Acquire Date	The purchase date of the security
   c). Sold Date	The date you sold the security, if you haven’t sold the security before the end of specific year, Trademax will treated it as the last day of the year for the transaction is under Mark-to-Market methods.
   d).Acquired Amt( Amount)	The Amount auto-calculated by the Quantity of the security* Original price
   f).Cost or Other Basis	The Amount auto-calculated by the Quantity of the security* Price on Sold sate
   g). Gain/Lose	The Amount auto-calculated by Cost or Other Basis – Acquired Amt

Trade DetailReport - A report display all trade detail. This report lists each and every transaction as displayed in the grid. Additionally, the profit or loss can be grouped by ID, Symbol, or TradeDate.

Now, we will show you how to run a Trade DetailReport:

1. Click the item Trade DetailReport, you will get the following

   

2. You can group it buy different column header by choosing specific one in the Subtotel Field.

 

 

 

Cost Basis Transaction Report -This report is for those users who track the cost basis in stocks, bonds and mutual funds to report a cost basis when an investment is sold.

Cost basis is what you pay for an investment, including commissions. If you reinvest dividends and/or capital gains distributions — a common practice for mutual fund shareholders — they should be added to your cost basis. The original value of an asset for tax purposes (usually the purchase price), adjusted for stock splits, dividends and return of capital distributions. This value is used to determine the capital gain, which is equal to the difference between the asset’s cost basis and the current market value, which is also known as “tax basis”.

The following will tell you how to run a Cost Basis Transaction Report

Click the item Cost Basis Transaction Report, you will get the following report window: 

Basic Function
1	Report data information including Data Source, Create Date, Tax Payer and Page of Total
2	Display the cost basis details for all transactions in the current account and current period.
3	Display the total USD Amount

The following grid give a detailed introduction about the report .

Function	Description
1.Trade Time	The transaction date of the security
2.Action	Action name of the trade
3.Description	The information of the trade
4.USD Price	The share price at USD Currency price
5.USD Amount	Auto-Calculated by USD Price* Qty(Quantity)
6.Qty( Quantity)	The quantity of security you purchase
7.Hold Qty ( Hold Quantity)	The quantity of holding security
8. Cost	Aggregate Amount of USD Amount

Realized Gain/Loss Report -This report is for those users who require trade transaction detail. Such as Security, Quality, open price, Open date, Open Commission, close price, close commission, sales price, cost basic, Actual gain &lose for each transaction. Moreover, it can be grouped by ID, Symbol or Date.

Click the item Transaction Report, you will get the following report window: 

Basic Function
1	Shows all of the open positions in the current account
2	Display the details for all transactions in the current account and current period. You can group it buy different column header by choosing specific one in the Subtotel Field.
3	Display the Actual Gain & Lose Amount