Setup a New Account |Form 8949 Capital Gain & Wash Sales calculator software

Setup a New Account

You can add an account to TradeMax to import your trade data. There are five different preset account types in the Account List. You can choose one of them when you are setting up your new account and you can also change it by editing your account function.

To setup a new account:

  1. In the left pane of TradeMax main window, right-click My Broker(s) or one of five preset accounts and select the Add New Account
  2. A dialog box will pop up as below:

    Basic Function
    Broker Name Select the broker name from its drop down box
    Account Name Enter a descriptive name for your brokerage account in the Account name: This name can be any name or description that you like such as: “Score Trade Jones “
    Info Information about the account. Surely you can skip this step by blanking the field
    Notes Notes about the account. Surely you can skip this step by blanking the field
    Type Select the exact type of your Brokerage type. Learn more about Types
    Currency Select the Currency type of this account.
    Default Transaction Fees 1)Preset your security commission in the specific account
    2)It will be applied to all transactions input to the account
    Type Security type
    Fixed Specific the commission and fee type:
    1.Check the checkbox: Fixed
    2.Uncheck the checkbox: Percentage
    Commission The commission in the trade grid will be sum of the two.

    There are five types:

    • Standard Brokerage account—– General investing account that helps you build and manage a diversified portfolio. Standard Brokerage accounts can be individual, joint, custodial, or business accounts.
    • IRA or Keogh account—- Special accounts that allow saving taxes deferred until money is withdrawn. These plans are subject to frequent changes in law with respect to the deductibility of contributions. Withdrawals of tax-deferred contributions are taxed as income, including the capital gains from such accounts.
    • 529 College Saving Plans—- A tax-advantaged investment program that can be used to fund a child’s higher education at any accredited U.S. post-secondary school. Plans are established by individual states but are typically available nationwide.
    • UGMA/UTMAs— A brokerage account that allows you to invest on behalf of a minor. Funds can be used for any expense the child incurs, not just education. Ultimately, the child assumes ownership of the account, with a portion of withdrawals taxed at their rate.
    • Single Mutual Fund— A account is professionally managed and can be a simplified way to diversify a portfolio.
  3. Click OK and TradeMax will show your a new account in the Account List:
    • The FY2008 contains the whole trade data and the baseline positions of 2008 tax year and the trades executed in January of the following tax year
    • The FY2009 contains the whole trade data and the baseline positions of 2009 tax year and the trades executed in January of the following tax year
    • The Baseline contains the baseline position of last finance year
    • The Finance Data contains all cash flow data. For example, cash dividends.
    • The My Holdings contains the holding positions of the specific date
    • The Trade Data contains the important data for the schedule D purposeNote:
      • The FY20xx depends on the year you set up the new account. For example, if you set up your account in 2010 you will get two folders FY2009 and FY 2010 under the new account
      • The positions contains two parts: Open Position (Open Long , Sell to Open) and WashSale Defer Position Learn more about: Long, Sell to Open

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.
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