import trade |Form 8949 Capital Gain & Wash Sales calculator software

Import Trade Activity Data from Local File


Option 2: Import Trade Activity Data from Local File

TradeMax provides you the facility to Import data from more advanced formats which the majority of the brokers use. You can import Quicken, Microsoft Excel(*.xls), or Text files(*.csv,*.txt) etc. These transactions can later be managed from your desktop.

The importing process is also a profile setting up process. It provides you with a wizard to filter the useful trade data, match the data, and then generate a TradeMax data format for the following tax calculation purpose.

Note:

  1. The file could have any one of the following type extensions: *.csv, *.txt, *.xls, *.qif, *ofx, *.qfx, *tdf,*.tlf
  2. You can Undo or Redo the importing action by Click the icon in the Quick Access Toolbar

Trade Import Process

If you have created a new brokerage account and located a compatible trade history report from the online broker’s web site, the next step is to import trades into TradeMax.

The import function is available under the Account List: Right-click the account which you want to import your data and select the Import Trade.

Then the Select Import File And Profile dialog box will popup. TradeMax provides you with a step-by-step wizard to guide you through the rest of the process.

Step 1: Select import trade data source

There are four options for you choose to import your data.

Option 1 Import Trades from Brokerage Account (If you want to download trades from online brokerage account, select this option) please check Supported Brokers List .

Option 2 Import Trade Activity Data from Local File(If you have already downloaded trade data from your Brokerage account, just choose Import Trade Activity Data from Local File Option in Mode field.)

Column Header Import Type Link
Excel- Text XLS. TXT.etc From your own computer
Quicken(*qfx) QFX Log in to Quicken Software to download the data
Quicken(*qif) QIF Log in to Quicken Software to download the data

Option 3: Import Realized Gain and Loss Report from Local file (Users can import Gain and loss Report in *.xls format from local file, each record has open and close data, cost amt, proceed amt, please note some Gain&Loss Reports do not have holding position at year end.)

Option 4: Import Trade data copied from broker Transaction History Report (The users just need to copy the Transaction History report from the web of the specific broker, and paste it to TradeMax during the importing process.)

The following dialog box is used to select a profile to import the data into TradeMax. You can also create a new profile and save the profile settings and re-use it to import a similar file. In addition, you can edit an existing profile as and when needed.

Option 2 : If you already have downloaded trade data from your brokerage, just choose Import Trade Activity Data from Local File Option in Mode field.

Function Description
Account Select an account to import your data
Trade Time Range Automatically display the date range of existing trades in the current account
Mode If you already have a user name and password of the selected account, select I want to connect to ***. I have a *** user name and password.
If you have trade data in your computer, please select I want to import data from local file.
If you have realized gains and losses report in your computer, please select I want to Import Realized Gain & Loss Report from Local file.
If you want to skip the file downloaded process, just select I want to import data copied from broker Transaction History Report.
Include Baseline If you have already appended baseline position, you will need to select the checkbox and enter your specific tax year or select it with the arrows at the right side

Click Next to make further changes in the settings.

Function Description
1. Profile Name Preset import profiles for importing trade data. With the default profile, you can skip Step 2, Step 4 and Step 5 Profiles Options:1.Broker Profile: ScoreTrade, Interactive Brokers, E*Trade and so on2.File Profile: Quicken Interchange Format(*.QIF), IB TLF(*.TLF), Open Financial Exchange(*.OFX), *.csv, *.txt, *.xls, *.qfx.3.Profile Wizard: Setup a temporary profile or replace it with specific one to setup a new profile which can be re-used to import a similar fileDefault is : Broker Profile like ScoreTrade; Quicken Interchange Format(*.QIF), IB TLF format(*.tlf), Open Financial Exchange(*.OFX)
2. Sample Data The Sample Data of specific broker will be displayed in this field, if the data file you copied from the broker doesn’t match the required format of corresponding profile, a notification window will pop-up.Note: If the data doesn’t match, you can select Profile Wizard from the droplist of Profile Name to make some changes in the settings.
3. Short Transacton Detection If this function is activated, whenever TradeMax imports a sell security transaction without holding long position, the trade will be recorded as short.Note: You shouldn’t select Short Transacton Detection if you did not Enter Previous Year Holding Positions or Include the Baseline Position. In this case, TradeMax will assign the close long transaction as an open short transaction
4.Buy to Cover Long Transaction Detection If your online brokerage accounts allow the conversion of an open, short position to an open, long position with a single buy transaction (and vice versa). You can activate Buy to Cover Long Transaction Detection function to allow TradeMax to make the necessary adjustments during the import process. TradeMax will automatically split up the single “buy” transaction into two – one to close the short position, and another to open up a new long position.
5. Import File Click File Browser Button to select data file from your computer.

The aboved dialog box is the default one, but users can choose to import trade data in Profile Wizard, just by clicking the Profile Name in the above dialog box, and then selecting Profile Wizard from its dropdown list, and you can see the following dialog box:

Function Description
Profile Preset import profiles for importing trade data. With the default profile, you can skip Step 2, Step 4 and Step 5 Profiles Options:1.Broker Profile: ScoreTrade, Interactive Brokers, E*Trade and so on2.File Profile: Quicken Interchange Format(*.QIF),IB TLF file(*.TLF), Open Financial Exchange(*.OFX), *.csv, *.txt, *.xls, *.qfx.3.Profile Wizard: Setup a temporary profile or replace it with specific one to setup a new profile which can be re-used to import a similar fileDefault is : Broker Profile like ScoreTrade; Quicken Interchange Format(*.QIF), IB Tlf(*.TDF), Open Financial Exchange(*.OFX)
Type Select TXT or XLS data file.Default is : TXT
Record Separator A single character or a regular expression, controls the way TradeMax scans the imported data file.TradeMax scans the imported file for character sequences that match the separator. Controls the way TradeMax splits the imported file into records.Options:1.^ : Normally used for QIF files2.Line Feed : Default record separator for most filesDefault is : Line Feed
Field Separator Controls the way TradeMax splits an input record into fields.Options:1.Most used Separator: Comma, Tab2.Other Separator: Double Quote etc.Default is : Comma
Text Qualifier Controls the way TradeMax splits an input Field into text. It selects the character that encloses values in your text file.Default is : ‘ and “
Has Column Header If there is a column header in your imported file, you will need to select the checkbox
Short Transacton Detection If this function is activated, whenever TradeMax imports a sell before a buy for a symbol with no shares currently open, the trade will be recorded as short.Note: You shouldn’t select Short Transacton Detectionif you did not Enter Previous Year Holding Positions or Include the Baseline Position. In this case, TradeMax will assign the close long transaction as an open short transaction
Buy to Cover Long Transaction Detection If your online brokerage accounts allow the conversion of an open, short position to an open, long position with a single buy transaction (and vice versa). You can activate Buy to Cover Long Transaction Detection function to allow TradeMax to make the necessary adjustments during the import process. TradeMax will automatically split up the single “buy” transaction into two – one to close the short position, and another to open up a new long position.
Import File Click File Browser Button to select data file from your computer.
  1. Press the Import file button. Import Trade dialog box opens and from here you can browse and select your desired file.
  2. Select or setup a specific profile
    1. Select a profile
    2. The options from the dropdown list are:
      • Previous user defined or system defined profile, for example, SocreTrade. If you select this option, you skip Step 2, Step 4 and Step 5 of the importing process.
      • You can also setup and save a new profile by entering a new profile name to replace the <Profile Wizard >.
  3. Select Record Separator from the dropdown list.
  4. From the Field Separator dropdown list, scroll through the list to find the exact one according to the imported files.It can be one of the defined separators: Comma, Double Quote, Single Quote, Space and Tab.
  5. You can use the default setting in Text Qualifier and you also can enter the new one according to your imported files.
  6. Select the Has Column Header checkbox according to the files you imported
  7. Click Next to go to the next step.

Step 2: Map Fields

  1. In this step, you can map your data by assigning or mapping the column header. (With the default profile, this step will be skipped.)
  2. Note:  TradeMax follows the calculation formula: Amount = Price * Quantity + Commission, and so, if your trade data lacks one of these conditions, TradeMax can auto-calculate it in this step.

  3. Click the cell under the Map to Field column and select the right column header to map the data.
    • All Column Headers should match column headers under Map to Field excluding some exceptions.
    • You can assign the column header Currency to the columns refer to Trans Currency.
    • You can assign the column header Description or Note to the columns refer to notes and TradeMax will combine them to the notes column in the data grid.
    • You can also exclude any unused columns by selecting the option Ignore
    • If the currency is displayed in the incorrect form (e.g. HK$) , TradeMax will display a pop up Map Currency dialog box to map your currency
  4. Learn more about Column Header in TradeMax

    Function Description
    Account Your Account Name
    Action Long, Short, Close Long, Close Short , Buy , Sell, etc
    BaseRate The exchange rate got by Original Currency/ Base Currency.
    Commission Trade broker commissions
    CompanyName the company name of specific security
    Expired Date Expired date of option or future.
    Fee Trade broker Fees
    Ignore Exclude the useless column by selecting the option Ignore
    Market Exchange market where you bought the financial product. For instance, NASDAQ.
    Notes Any information of the trade record
    Quantity Number of shares
    Rate Option or future rate. An option has a 100 “Rate” which means an option contract is for 100 shares of the underlying stock.
    Sell Rate The exchange rate of Base Currency / USD Currency. Or directly query the Sell Rate in “Currency Exchange
    Strike Price The strike price of the underlying stock in the option or future
    Symbol Security Ticker Symbol
    Tax Rate The exchange rate Original Currency/ USD Currency.
    TickerInfo Information of symbol ticker
    TickerMatch Match your Ticker automatically or compel matching
    TradeDate Trade date
    TradeTime Trade Time
    Trans Amount Transaction Amount
    Trans Currency Transaction Currency
    Trans Price Transaction Price
    Type Security type. For instance, stocks and mutual funds, options on stocks, Section 1256 Futures, currencies etc.

    Note:

    As the above picture shows, just click the cell under Currency, and select the matched currency to map your currency. If the currency is displayed in the correct form, this step can be skipped.

  5. The scroll bar (below) can be used to scroll down to display more rows in the trade grid.
  6. To verify your previous settings, press the Back button.
  7. Click Next to go to the next step.

Step 3: Map Actions

In this step, you can change transaction Action types suggested by TradeMax.

  1. Click on the Action column and select the desired option from the list to match the action listed under ActionName heading.
  2. Function Description
    Long Buy Stock/Option to Open a Long position
    Short Sell Stock/Option to Open a Short position
    Close Long Sell Stock/Option to Close a Long position
    Close Short Buy Stock/Option to Close a Short position
    Expired Expired Option
    Exercised Exercised Option
    Assigned Assigned Option
    Split Stock Split
    Spinoff Stock Spinoff
    Merge Stock Merge
    SharesAdded Shares Added into Account
    SharesRemoved Shares Removed from Account
    DIV Dividend
    IntInc The interest paid in cash
    Misclnc Miscellaneous Income
    ReinvDiv Reinvested Dividend
    ReinvInt Reinvested Interest
    CancelBuy An open buy order is being cancelled and is waiting for a “Cancelled” status
    CreditInterest Interest of Credit
    PeriodicInterest The interest charged on a loan or realized on an investment over a specific period of time
    Journal Represent all areas of money, investment, banking and related disciplines
    CashAdj Cash Adjustment
    IRAReceipt Receipt of IRA
    TaxExemptDiv Tax Exempted Dividend
    StkAdj Stock Adjustment
    Deposit Deposit into your account
    Withdraw Withdraw from your account
    RtrnCap Return of Capital
    MiscExp Miscellaneous Expense
    MargInt Margin Interest
    Buy You need to be sure of every trade action. For example, ONLY IF you can sure that in the data file every BUY is open in a long position, you can select the Long to map with the buy.
    Sell You need to be sure of every trade action. For example. ONLY IF you can be sure that in the data file every Sell is set in sell to short, you can select Short to map with the Sell.
  3. Press the Back button, if you want to change previous settings or click on Next button to go to the next step.

Step 4: Map Types

Check your stock type in this step.

  1. From the dropdown list under the Symbol type , you can select the security’s type to match your imported data file.
  2. Click Next to go to next step

Step 5: Symbol Validation

Validate your symbol in this step.

  1. Select the Type for each symbol from its dropdown list (Stock is the default type)
    Attention:
    Records can be sorted in ascending or descending order by clicking on any column header.
  2. Enter the Underlying Stock, Strike Price and Expire Date etc (You can skip this step if it is not option or future)Attention: You can manually enter the Expire Date or select from its dropdown calendar.Learn more about: How to select the date.

  3. Merge to is an option which can merge one security into another.Attention:
    • Symbol # represents that option has expired or been cancelled buy, and the function Merge to enable the option or stock mentioned above to merge to normal one automatically.
    • If the symbol type is option, you need to enter the Underlying Stock, Strike Price and Expire Date. If the symbol type is future, you only need to enter Underlying Stock and Expire Date
    Basic Function
    1 To sort by Symbol Name in ascending order, click Symbol Name in the column header once and there will be up-arrow after Symbol Name. To sort in descending order, click Symbol Name twice and there will be a down-arrow after Symbol Name. To cancel the sorting, you can click Symbol Name the third time.
    2

    Merge to is an option which can merge one security into another.

    As picture shows: .AUDBU# in above window is an option which corresponds to .AUDBU.in Scottrade, it merges to .AUDBU automatically. If you want to merge it to another specific option, you can manually enter the name of the specific option OR select from the dropdown list.

    3 Underlying Stock is the stock on which an option is written, giving the option holder the right to buy or sell.
  4. Click Next to go to next step

Step 6: Trade Record Preview

In this step, you will have a Trade Record Preview window shows the details of import data. If you scroll down the transaction list, you will see all transactions that TradeMax has concerns about will be highlighted in red and green. You need to validate and correct these Suspected Transactions (red one) before you proceed. In addtion, the Error Trade(s) dialog box will ease your task.

Basic Function
1 Trade Record Preview dialog box
2 Records can be sorted in ascending or descending order by clicking on any column header.Click on the header once to get the up-arrow to show that records be sorted in ascending order.
3 Click on the header twice to get the down-arrow to show that records be sorted in descending order.
4 Check Action with the ActionName in the Action column. From its dropdown list to select the right one.
5 Columns can be resized by the user by positioning the mouse cursor over the line between the columns in the column header row, holding down the left mouse button and dragging the line to the desired location.
6 If you don’t want to import the trade transaction, you can uncheck the import it check box which locate at the end of the trade record.
7 Same day transactions.
8 Red records indicate the incorrect transaction:1) A Sale to Close, a Buy to Cover, and Exercise, Assign, Expire or Journal Out as the first transaction for any symbol; 2) Sequence error; 3) Missing/Inconsistent Data fields by using Qty, Price, Commission, Fees and Rate information.The incorrect transactions will be displayed in the right Error Trade(s) dialog box.
9 Green records indicate the closed transactions which closed (A Sale to Close, a Buy to Cover ) all your holding open position.
10 Click it to expand the item.
11 Click it to collapse the item.
12 If this function is activated, whenever TradeMax imports a sell before a buy for a symbol with no shares currently open, the trade will be recorded as short.Note: You shouldn’t select Short Transacton Detectionif you did not Enter Previous Year Holding Positions or Include the Baseline Position. In this case, the TradeMax will assign the close long transaction as an open short transaction.
13 If your online brokerage accounts allow the conversion of an open, short position to an open, long position with a single buy transaction (and vice versa). You can activate Buy to Cover Long Transaction Detection function to allow TradeMax to make the necessary adjustments during the import process. TradeMax will automatically split up the single “buy” transaction into two – one to close the short position, and another to open up a new long position.
14 Scan the status of transactions in the imported data file and the concerned trades will be highlighted in red or green.
15 Reconcile the sequence of the transactions on the same day. It can be activated by select the same day transactions.
16 Select the check box to reverse the same day transctions.
17 Error Trade(s) dialog box. If there is no error trade, the box will be hidden.
18 Error trade records. Click it to go to the specific error record in the Trade Record Preview dialogue box.
19 Unimported Data records. You can select unimported data records and right-click to export unimported data to files.
  1. Click the error trade record to go to the specific error record in the Trade Record Preview dialogue box.
  2. Check the Action and ActionName and select the right one from its dropdown list
  3. Press the Rescan button to rescan errors. If it does have an error, repeat the above two steps to remove the error.
  4. Select the import it column checkbox to import that transaction
  5. Click Finish to complete the whole importing process. You can verify the previous setting by clicking the Back button. In addition, you can also cancel the data importing with the Cancel button.Tips:
    • For a more accurate gain/loss report, we suggest:
      1. Click the TradeDate column header once to show the records to be sorted in ascending order
      2. Check the Action and ActionName transaction by transaction and select the right one from its dropdown list
    • TradeMax can automatically recalculate the missing or inconsistent data fields found in the file to be imported by using Qty, Price, Commission, Fees and Rate information.

Import Trades from Brokerage Account


Option 1: Import Trades from Brokerage Account

If the security trader holds online brokerage account, TradeMax provides an easy wizard to import trades from brokerage account.

  1. Select Import Trades from Brokerage Account from the pop-up dialog.
  2. Function Description
    Account Select an account to import your data
    Trade Range Automatically display the date range of existing trades in the current account
    Mode If you already have a user name and password of the selected account, select I want to connect to ***. I have a *** user name and password.
    If you have trade data in your computer, please select I want to import data from local file.
    If you want to skip the file download process, just select I want to import data copied from broker Transaction History Report.
    Include Baseline If you have already appended baseline position, you will need to select the checkbox and enter your specific tax year or select it with the arrows at the right side
  3. Click Next to make further changes in the settings.
  4. Function Description
    Your Online Broker Select your online broker from the dropdown list.
    User ID Manually enter your registered User ID
    Password Enter your password manually.
  5. Click Next Button to continue.
    • Online Accounts: If you have several subsidiary accounts under the main account, you can modify it or select it from the dropdown list.
    • Set the Start time and End time manually or select it from the drop down list, the trade data within this period will be downloaded. Then click Next to Step 2.

My Broker(s)


Context Menu makes our task a breeze in windows and TradeMax makes full use of context menu function under the Account List. Right-click different item, you will get different context menu.

  1. Right click the My Broker or broker folder, you will get the following Menu

  2. Function Basic Function
    Import Trade Import you trade history.
    Add New Account Setup a new account to set you trade data
    Add View Add a view to display some specified trade data under some specified condition. MORE DETAILS.
  3. Right click the account, you will get the following Menu:

  4. Function Basic Function
    Import Trade Import you trade history.
    Add View Add a view to display some specified trade data under some specified condition. MORE DETAILS.
    Edit Account Edit the current account
    Delete Account Delete the current account
  5. Right click view FYxxxx, you will get the following Menu:

  6. Function Basic Function
    Import Trade Import you trade history.
    Add View Add a view to display some specified trade data under some specified condition. MORE DETAILS.
    Edit View Edit the current view
    End Of Tax Year End of current tax year
    TXF Export Export the TXF files to your computer. The TXF files can be imported to popular tax software such as TaxCut and TurboTax.
    Delete View Delete the current view
  7. Right click the view FYxxxx (For example FY2008) and select the Add View show you the following context menu:
    Basic Function
    Stock Contains all Stock transactions
    Option Contains all Option. transactions
    Future Contains all Future transactions
    Currency Contains all Currency transactions
    Stock Option and SSF Contains all Stock Option and SSF transactions
    Baseline Contains the baseline positions of the current tax year
    Finance Data Contains the cash flow data, for example, cash dividends.
    Trade Data Contains the all trade data for the schedule D purpose
    My holdings Contains the holding position of specific date
    Custom Customized view
  8. Right click the view Trade Data and select the Add Report, the following context menu display:
    Function Basic Function
    Short/Long Term Capital G&L Report This is the default report created by TradeMax to file with IRS.
    IRS Schedule D-1 This report is for those users who require a more exact replica of the IRS form.
    Realized Gain/Loss Report This report is for those users who require trade transaction detail. Such as Security, Quantity, 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.
    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.
    Transactioon Detail Report This report lists every trade record as displayed in the grid. Additionally, the profit or loss can be grouped by ID, Symbol or TradeDate.
    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.
    Summary Report This valuable summary or aggregation of an entire ID or Symbol allows a user to see how one symbol performed versus another.
    Wash Sale Detail Report This report allows you to analyze your disallowed wash sale losses deferred to next year.
    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
    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.
    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.

Ribbon Tabs


The Ribbon is designed to help you quickly find the tools and commands that you need to complete a task. Commands are organized in logical groups that are collected together under specific tabs.

Trade Tab

Basic Function
Actions Group Import Import trade history
Append Append a trade or a symbol
Edit Edit your trade records
Delete Delete selected trade records
Price Download lastest Price for a symbol
Market Download Exchange Market for a symbol
Scan Scan the status of transactions in the current data grid and the concerned trades will be highlighted in red or green:
1.Red records indicate the error transaction:1) A Sale to Close, a Buy to Cover, and Exercise, Assign, Expire or Journal Out as the first transaction for any symbol; 2) Sequence error; 3) Missing/Inconsistent Data fileds by using Qty, Price, Commission, Fees and Rate information.
2.Green records indicate the closed transactions which closed (A Sale to Close, a Buy to Cover ) all your holding open position.
Save Save the trade record (Keyboard Shortcuts: CTRL + S)
Clipboard Group Copy Copy selected trade records (Keyboard Shortcuts: CTRL + C)
Paste Paste selected trade records to specific field (Keyboard Shortcuts: CTRL + V)
Undo Undo the last action (Keyboard Shortcuts: CTRL +Z/ALT + Backspace)
Redo Redo the previously undo action (Keyboard Shortcuts: CTRL +Y)
View Group Group By Box Press the Group By Box button to activate the Group By panel which is at the top of the data grid.It allows grouping data by single or multiple columns. You can either set grid column(s) that will be used for grouping, or enable Group By Box where grouped columns may be dropped at runtime
Field Chooser Press the Field Chooser button to activate the Field Chooser box floating above the data grid.The built-in Filed Chooser provides a simple and efficient way to organize the grid layout: you can drag and drop the column header to the chooser from the grid header. You can also drag any required field from the chooser and drop it either on the grid header, or on the group box.
Outlook Bar Hide or display the Account List
Column Auto-Resize Allow TradeMax to automatically resize columns in the data grid.
Help Button Click it to get Help Document.( Keyboard Shortcuts: F1)

 

Calendar Tabs

Basic Function
Action  
Mode  
View  

 

 

 

Quick-Start


Quick-Start

To get started using TradeMax with minimal amount of time, please follow these steps or watch our online tutorial :

Notes : If your PC system is Win 7 or Windows Vista , you will be required to run TradeMax as an administrator during the process of handling your transaction charts or reports . How to run TradeMax as an asministrator in Window 7 or Vista?

  1. Create a New Account File
  2. Setup a New Account
  3. Import or Append Your Trades
  4. Confirm Trade Data
  5. Adjust Your Trades for Tax Purpose
  6. Generate Performance Report
  7. Export Form 8949 Report for efiling
  • Open Database or Create a New Account File

  • Click “Open” button on the trade panel

    The following dialog box will popup

    Basic Function
    1. Create New Enter the account name and press “OK” to create a new account file.
    2. Open Exist Select an existing account file (e.g. DemoAccount.tmx) and press “OK”.
    3. Select Folder Click “Select Folder” button to select account file folder from your computer. Or click the Triangle button and select “Open” to open account file folder.
  • Setup an account to import your trades

  • You can setup a separate account for each brokerage and trader by right-clicking the item on the Account List and selecting theAdd New Account.

    TradeMax will pop-up a dialog box to complete your account information. For usage within TradeMax the minimum information required to be entered is the Broker Name, Account Name, Type and Currency.

    Then TradeMax will automatically create a new account in the Account List like the following: (For example, Interactive Brokers Jone is the new account name)

    The FY2008 contains the whole trade data and the baseline positions of the tax year 2008 and the trades executed in January of the following tax year

    The Finance Data contains the cash flow data, for example, cash dividends.

    The Trade Data contains the important data for the Schedule D purpose

    Learn more about: Setup a New Account.

  • Import or Append Your Trades

    1. If you are using TradeMax for the first time and have hold open position from previous tax year, you can import holding position into TradeMax separately OR just manually enter previous year holding position into TradeMax.
      • Since your held positions do not belong to the current tax year, you need to select the Trade Include In Year checkbox and enter the specific tax year.
      • Please do not enter or import any closed positions from any year prior to the current tax year.
      • This only needs to be done once for each brokerage account. Every year thereafter, you can use the function End Of Tax Year to copy your year-end open positions to your next tax year data file.
    2. Import Holding position into the Baseline View under selected account.

      OR manually enter the holding position by appending a trade in Baseline view.

      For example, you bought some stocks in 2009 and remained open at the year end, if you import trade data in 2010 without entering the open position carried from 2009, TradeMax will fail to match trade data, the generated reports and wash sale calculation will also be inaccurate.

      You can locate a list of your open positions at year-end by viewing your December monthly statement for the previous tax year. For example, if you are working on tax year 2010, you will need to locate your December 2009 monthly statement.

      Learn more about: Append a Trade.

      Note:

    3. If your trade data are complete which already include all the open postition or have no open position, just import it directly.
      1. Right Click the selected broker account you set up, then select Import Trade from its dropdown list.
      2. The Select Import Data Source Dailog box pops up, and there are three options for users to import your trade data.
        • Please import the current tax year trade data and January of next tax year for the tax purpose.We suggest you import the data until the end of the March in case of the negligence.The January of next tax year trades are required for properly calculating wash sales.
        • Please do not import any closed positions from any year prior to the current tax year as this also will distort the profit/loss calculations for the current tax year.
        • For the unsupported brokers, users can set up new one in Profile Wizard dialog box.
      3. Option Description
        1. Import Trade from online brokerage If the security trader holds online brokerage account, TradeMax provides an easy wizard to import trades from brokerage account. Just enter the user name and your password during the import process, TradeMax will auto-import your transaction history from your online broker directly.Note: TradeMax supports the following brokers via OFX Server : Ameritrade OFX Server, Fidelity Investment, Penson Financial, Schwab, ScotTrade, BOA Investment, E*Trade, Harrisdirect , OptionsXpress, Vanguard, Merrill Lynch, UBS, etc)
        2. Import trade from local file
        1. TradeMax can import ofx,qfx,qif,tlf files with pre-defined file profileTradeMax provides the facility to import Trade Activity data (*.csv,*.xls) with pre-defined brokerage profile,please check our supported brokerage list. click Detail link to get how to download trade activity data from your broker.
        2. TradeMax also can use Profile Wizard funtion to import unknow format trade data (such as a downloaded CSV file, Text file, excel file from unknow broker) .
        3. Follow documents contains sample trade data that you can download to practice or use as templates for importing trade activity into TradeMax.
          http://www.itrademax.com/download/tradeactivity.xls
        3. Import trades copied from broker transaction history If the security trader holds online brokerage account, TradeMax provides an easy wizard to import trades from web using Transaction History Report, the users just need to copy the Transaction History Report from the web of specific broker, then paste to TradeMax’s clipboard during the import process.

        Note:

  • Confirm Your Data

  • After each importing, you need to make sure everything is matched properly and the unmatched trades will be displayed in Red in TradeMax , TradeMax provides three confirmation steps to complete the task:

    1. You can click the Information Icon at the down-left corner, the Information Grid will appear, then click the Scan Tab to scan the status of transactions in the current data grid and the concerned trades will be highlighted in red or green so that you can adjust your trades.
    2. You can check whether your holding position carried from previous year were imported completely or not by comparing your holding positions in TradeMax with your broker’s December statementThe holding positions should be the same.Learn more about: How to display all holding position.If there is any unmatched position, you can check these:
      • Make sure to take unsettled trades on the December brokerage statement into account.
      • Make sure to adjust for securities referring stock splits, mergers, spinoffs or symbol name changes. Stock Splits | Mergers | Spinoffs | Changing Symbols
  • Adjust Your Trades for Tax Purpose

    1. After all data is confirmed, the next step is to make some adjustment for the tax purpose. If there is no such trade, this step can be skipped.
    2. After confirming that all trades of the current tax year are imported and matched correctly, you are ready to execute the function “ End of Tax Year” on your account for the next tax year.  It shows the year end open position and wash sale defer loss, also can auto- generate hold position carried from this year for next tax year and defer cost to these positions.
    3. Learn more about: End of Tax Year topic.

      Note:

      To enable TradeMax to calculate wash sales and defer losses to the following tax year when applicable, you need to enter the trades executed in January of the following tax year

      first.

      If you have several different brokerage accounts, you must combine these into one account so that TradeMax can calculate wash sales across accounts.

      Right click the account and select the Add View > Custom to complete the Combine Account process. Then run the combined account just as the single account.

      Learn more about: Combine Your Accounts.

  • Generate Performance Reports

  • Many investor trade security in other currencies such as EUR, CAD, AUD, JPY, HKD, GBP, CHF, TradeMax now supports running report in your base currency and in USD currency for tax purpose.

    To generate a report, right-click the specific account and select the specific report type.

    The Base Currency is the first currency quoted in a currency pair.  The base currency is referred to as the parent currency and exchange rates are quoted in per unit of the base currency.  The base currency is the more valuable currency.  Therefore in the HKD/USD currency pair, the HKD is more valuable than the dollar, so it is the base currency.  The base currency is also known as the accounting currency or domestic currency. TradeMax supports running reports on the following base currencies such as EUR, CAD, AUD, JPY, HKD, GBP, CHF.

    The following report types are available:

    1. 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.
    2. 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.
    3. IRS Schedule D-1 – This report is for those users who require a more exact replica of the IRS form.
    4. 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.
    5. 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.
    6. 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.
    7. G& L Report – This is the default report created by TradeMax for filing with Taxes.
    8. 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
    9. 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.
    10. 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.
    11. Wash Sale Detail Report– This report allows you to analyze your disallowed wash sale losses that have been deferred to next year
    12. 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.
  • Export Schedule D-1 Report for efiling

    After running TradeMax Schedule D-1 report, you can either print it in appropriate format and attach it to your tax return, then file by mail, or just export your gains and losses generated by TradeMax to popular Tax software with TXF Export function.

    1. Export the generated Schedule D-1 Report and print it in opened file. OR Select the above report, directly print it by pressing button in TradeMax.In the Description of Property column on your IRS Schedule D (for cash basis accounting), write “See attached report”. Then simply copy the totals from your TradeMax IRS Schedule D-1 report which serve as the attatchment to efile with your schedule D.Learn more about: How to Print your Report.
    2. Export your Schedule D-1 to popular tax software with TXF Export function.TradeMax provides you with an easy way to export your Schedule D-1 with TXF Files.TXF File Export is a report type which allows importing your TradeMax Schedule D-1 into popular tax software such as TurboTax .
  • Import QIF file into TradeMax


    TradeMax provides you the facility to Import data from more advanced formats which a majority of the brokers support. You can import Quicken(*.qif)  or Text files etc.

    The importing process is also a profile setting up process. It provides you with a wizard to filter the useful trade data, match the data, and then generate a TradeMax data format for the following tax calculation purpose; here is the wizard to import QIF file into TradeMax step by step

    1. Export the trade data in quicken: After you ran Quicken, select File> Export> QIF File, then follow the instructions in Quicken software to store QIF file into your desirable directory.
    2. Run TradeMax, select the account into which you want to import QIF data.
    3. Right click the selected account, and select “Import” , the following dialog pops up.
      Function Description
      Account Select an account to import your data
      Trade Range Automatically display the date range of existing trades in the current account
      Import File Select data file from your computer
      Mode If you already have a user name and password of the selected account, select I want to connect to ***. I have a *** user name and password.
      If you have trade data in your computer, please select I want to import data from local file.
      Auto Assign Short If this function is activated, whenever TradeMax imports a sell before a buy for a symbol with no shares currently open, the trade will be recorded as short.
      Note:You shouldn’t select Auto Assign Short if you did not Enter the Baseline Positions or Include the Baseline Position. In this case, TradeMax will assign the close long transaction as an open short transaction.
      Convert Short to Long With One Transaction If your online brokerage accounts allow the conversion of an open, short position to an open, long position with a single buy transaction (and vice versa). You can activate Convert Short To Long function to allow TradeMax to make the necessary adjustments during the import process. TradeMax will automatically split up the single “buy” transaction into two – one to close the short position, and another to open up a new long position.
      Include Baseline If you have already appended baseline position, you will need to select the checkbox and enter your specific tax year or select it with the arrows at the right side
    4. Select I want to Import Data from Local file and make furthering settings, click Next to display the window below:
      • Select Quicken Interchange Format(*.QIF) from dropdown list in Profile Field.
      • Type, Record Separator, Field Separator, Text Qualifier are the default QIF forms.
      • Select data file from your computer
    5. Click Next to the next step.
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