Finance year |Form 8949 Capital Gain & Wash Sales calculator software

Does TradeMax software also handle trading activity for Futures contracts or Commodities?


Does the TradeMax software also handle trading activity for Futures contracts or commodities?

TradeMax works with Futures and commodities as TradeMax supports Section 1256 reports under which futures and commodities are classified.So you can view your performance of commodities or futures in Section 1256 Report.

Just follow the steps below to run Section 1256 Reports:

  1. Run TradeMax and import your trade data to the specific account you setup in TradeMax.
  2. Choose the specific finance year under selected account, then right-click Trade Data folder
  3. Select Section 1256 report from its pop-up list and Section 1256 Report Tab will be generated under Trade Data directory.
  4. Click Section 1256 Report Tab.
  5. Before generating Section 1256 reports , you will be required to select your positon holding Date. (The default is the end of specific year)
  6. The stock price of the selected date will be downloaded automatically.Note: As for commodities, TradeMax will require you to enter the commodities’ amount at the year end
  7. Now, you can view your commodities’ performance in the generated Section 1256 Report.

Baseline postion has been entered, should I write in the year that buy to open trade was done or do I have to put in 2009 to obtain a 2009 tax report?


I am using TradeMax for the first time, and have manually entered the baseline position. Since this is an original baseline entry, should I write in the year that the Buy to Open trade was done or do I have to put in 2009 to obtain a 2009 tax report?

When holding baseline positions and using TradeMax for the first time, each open position must be manually entered into TradeMax prior to importing  the trade sequences for the current tax year. Manually entering the open positions after importing your current year trade data will cause trades to be mismatched. (i.e.: TradeMax cannot possibly match a sale in 2008 to a purchase in 2007 or earlier if the purchase has not been entered first.)

When appending Baseline position in the Append dialog, select the checkbox called TRADE INCLUDE IN YEAR and select 2009 when entering the FY2009 baseline. The baseline position will be viewable in the Baseline View under Financial Year 2009. If not done properly when inputting the Baseline position, the trade data cannot be viewed in Baseline view and the trade data will be mismatched. Alternately use the Trade Edit function to change a normal trade to baseline position.

If I made a mistake in baseline entries – How do I deal with it?


If I made a mistake in baseline entries, how do I deal with it?

Below are two methods to correct the baseline entries errors without uninstalling TradeMax or restarting it.

a)Edit the Baseline Record

1. Open the baseline view you edited by clicking it, select the erroneous transaction record.

2. Right click the selected record, select Trade Edit from its pop-up list or Click “Edit” Tab in Trade Panel, a dialog box will pop up, you can edit this record.

b) Delete Baseline Record

  1. Select the specific Financial Year under which you set up the baseline view.
  2. Open the baseline view you edited by clicking it, select the errant transaction records.
  3. Right Click the selected data, select Trade Delete from its pop-up list or Click “Delete” tab in Trade Panel.
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