Acquired amount |Form 8949 Capital Gain & Wash Sales calculator software

Mark to Market Detail 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:
  2. 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.)

  3. 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


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

If a trader previously made the mark-to-market election,A trader may make an election under section 475(f) to report all gains and losses from securities held in connection with a trading business as ordinary income (or loss), including those from securities held at the end of the year. Securities held at the end of the year are “marked to market” by treating them as if they were sold (and reacquired) for fair market value on the last business day of the year. Generally, the election must be made by the due date (not including extensions) of the tax return for the year prior to the year for which the election becomes effective.

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

Securities or Commodities Held by a Trader Who Made a Mark-To-Market Election should fill out Form 4797 Line 10 :

  • 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. Separately show and identify securities or commodities held and marked to market at the end of the year. On line 10, enter “Trader—see attached” in column (a) and the totals from the statement in columns (d), (f), and (g).

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:
  2. 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.)

  3. 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
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