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.

Stock Splits, dividends, mergers, acquisitions and spinoffs are all examples of corporate actions. For example, a company may decide to split its shares 2:1, leaving shareholders with twice as many shares as they had before. In many cases, a corporate action will result in a new position or a change to the cost basis of the security.

As a result, investors should make necessary cost basis adjustments for each security. With thousands of corporate events that affect a stock’s cost basis, the odds are good that an investor will encounter one sooner or later. some corporate actions are easy to manage, while some need more manual calculations. As every corporate action type has its own rules, the investors must learn if they want to fill their Schedule D forms accurately.

Wash sale activity can further complicate the arduous task of tracking and adjusting for corporate actions. TradeMax’s wash sale algorithms are synchronized with corporate action activity to alleviate this problem.