open short |Form 8949 Capital Gain & Wash Sales calculator software

Import data copied from broker Transaction History Report

Option 4: Import Trade data copied from broker Transaction History Report

If your security trader holds online brokerage account, TradeMax provides an easy wizard to import trades from your broker’s website using Transaction History Report, the users just need to copy the Transaction History Report from website of the specific broker, then paste to TradeMax during the import process.

Let us take Citibank for example:

    1. Select I want to import data copied from broker Transaction History Report from the pop-up dialog.

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 want to skip the file downloading 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
    1. Click Next, the Clipboard Data dialog box appears:

    1. You just need to log onto the website of the specific broker, and copy the transaction history.

    1. Click “Paste” button to paste the data onto the clipboard of TradeMax.

    1. Click Next Button to continue.

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 on
2.File Profile: Quicken Interchange Format(*.QIF),  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), Excel Format(*.XLS), 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 changes in the settings.
3. Short Transaction 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 Transaction Detection , 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
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.
    1. Click Next to pop up Map Field dialog box.

In this step, you can map your data by assigning or mapping the column header. (With the default profile, this step will be skipped.)

    1. Click Next for the Symbol Validation dialog box to pop up.

    1. Click Next to go to the next step

Click Finish Button, a File Save As dialog box appears to give you the option of setting up the profile as a new one in the profile list for you to import trade history more easily

    1. Click OK button go to the next step, and the trade data is imported.

If I import from my computer, do I need to assign header in one (like Buy/Sell) then in the next screen need I clarify that B is open to long and S is sell to close?

If I import from my computer, do I need to assign header in one (like Buy/Sell), then in next screen do I need to clarify that B is open to long and S is sell to close?

You can see unmatched transactions warning during the import procedure. TradeMax identifies transaction into 2 pairs: a Long Trade, contains Buy to Open (Open Long) and Sell to Close (Close Long); a Short Trade, contains Sell to Open(Open Short) and Buy to Close(Close Short). Not every broker is reliable when it comes to the accuracy of their statements. Many Brokers mark Open Short and Close Short as Sell and Buy. That will confuse TradeMax during the trade matching, because Wash Sale rule only allows carrying loss between Trades with same intention. Therefore, one of your options is to manually alter these trades’ action type to get the correct results and to avoid the unmatched transaction warning. Insome special cases, you can change it to Short and Close Short (e.g. 100+200 short, then a 300 Close Short). The unmatched transaction warning will disappear by such adjusting.

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