Handle your wash sales and generator your Schedule D

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 into which futures, commodities is 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 speicifc 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 year end.

7. Now, you can view your commodities’ performance in the generated Section 1256 Report.

I am using TradeMax for the first time, and have manually entered the baseline position , since this is an original baseline entry, would I write in the year the buy to open trade was done or would I have to put in 2009 to obtain a 2009 tax report?

If you held baseline positions, and you are using TradeMax for the first time, you must manually enter each open position into TradeMax prior to importing your trades for the current tax year. Doing this 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 before importing.)

When appending Baseline position in Append dialog, You should select the checkbox called TRADE INCLUDE IN YEAR and select 2009 when you enter FY2009 baseline. Your baseline position will be viewed in the Baseline view under Finance year 2009. If you dose not click the checkbox when inputting, the trade data cannot be viewed in Baseline view and your trade data will be mismatched. You can also use Trade Edit function to change normal trade to baseline position.