report |Form 8949 Capital Gain & Wash Sales calculator software

Form 8949 Report


Form 8949 Report

Form 8949 – Starting with the 2011 tax year, investment transactions will be reported on the new Form 8949, Sales and Other Dispositions of Capital Assets.

Use Form 8949 to report:

  1. The sale or exchange of a capital asset (defined below) not reported on another form or schedule,
  2. Gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit, and
  3. Nonbusiness bad debts.

The IRS has created a page on IRS.gov for information about Form 8949 and Schedule D at http://www.irs.gov/form8949. Information about any tax law changes or other new developments affecting Schedule D or Form 8949 will be posted on that page. Form 8949 is new. Many transactions that, in previous years, would have been reported on Schedule D or D-1 must be reported on Form 8949 if they occur in 2011. Complete all necessary pages of Form 8949 before completing line 1, 2, 3, 8, 9, or 10 of Schedule D. Instructions for how to complete Form 8949 are included in these instructions.

Now, we will show you how to run an Form 8949 with TradeMax:

Note: Please enter your Name and SSN before run the report with the Option button in the Main Button.

      Right Click the item “Trade Date & Report” > “Add Report” > “Tax Currency” > “Form 8949” and you will get a report just like the IRS form 8949.

Note: After click the Form 8949 Report, Form 8949 trans dialog box will popup.
TradeMax will require your classify transaction cost or other basis type into Type A,B,C.

Use a separate Form 8949, Part I, for each of the following types of transactions.

  1. Short-term transactions reported to you on Form 1099-B (or substitute statement) with an amount shown for cost or other basis unless the statement indicates that amount was not reported to the IRS. Check box A at the top of this page of Form 8949. If your substitute statement shows cost or other basis for the transaction but indicates it was not reported to the IRS, report that transaction on page 1 of a Form 8949 with box B, not box A, checked (see 2 below).
  2. Short-term transactions reported to you on Form 1099-B (or substitute statement) without an amount shown for cost or other basis. Check box B at the top of this page of Form 8949. If your substitute statement shows cost or other basis for the transaction but indicates it was not reported to the IRS, report that transaction on page 1 of a Form 8949 with box B, not box A, checked.
  3. Short-term transactions for which you did not receive a Form 1099-B (or substitute statement). Check box C at the top of page 1 of this Form 8949.

Use a separate Form 8949, Part II, for each of the following types of transactions.

  1. Long-term transactions reported to you on Form 1099-B (or substitute statement) with an amount shown for cost or other basis unless the statement indicates that amount was not reported to the IRS. Check box A at the top of this page of Form 8949. If your substitute statement shows cost or other basis for the transaction but indicates it was not reported to the IRS, report that transaction on page 2 of a Form 8949 with box B, not box A, checked (see 2 below).
  2. Long-term transactions reported to you on Form 1099-B (or substitute statement) without an amount shown for cost or other basis. Check box B at the top of this page of Form 8949. If your substitute statement shows cost or other basis for the transaction but indicates it was not reported to the IRS, report that transaction on page 2 of a Form 8949 with box B, not box A, checked.
  3. Long-term transactions for which you did not receive a Form 1099-B (or substitute statement). Check box C at the top of page 2 of this Form 8949.

Include on each Form 8949 only transactions described in the text for the box you check (A, B, or C). If you have more than one type of transaction (A, B, or C), complete a separate Form 8949 for each. Check only one box on each Form 8949. For example, if you check box A in Part I of one Form 8949, include on that Form 8949 only short-term gains and losses from transactions your broker reported to you on a Form 1099-B (or substitute statement) showing that basis was reported to the IRS. If you have other types of transactions, report those on a separate Form 8949 and check the box that applies.

Note: In dialog box you can select the transactions,click “Move Selected Trans to …” button to move your trans to another type.

Click ok button ,your Form 8949 report will be generate.
Compare with standard Form 8949 report,TradeMax add “gain or loss combine columns” to the report.
So you can check the Formula results with this column,TradeMax also add “short term [a][b][c]subtotal/Long term   [a][b][c]subtotal” Field to help you fill schedule d form.

Wash Sale Detail Report


Wash Sale Detail Report– If you wish to analyze your disallowed wash sale losses that have been deferred to next year, you may run this report. It will show you the baseline position contains open position and Wash sales defer position.

    Click the item Wash Sale Detail Report and you will get the following report preview:

    Basic Function
    Short Term Capital Gain Display all short term baseline position contains open position and Wash sales defer position.
    Long Term Capital Gain Display all long term baseline position contains open position and Wash sales defer position.
    Total Amount The actual Capital Gain amount in the current account. It contains the Short Term Capital Gain Total and Long Term Capital Gain Total.

    Note: With using the Rounding method, it could be error within 0.01.

    Total Wash Sales Defer to Next Year Display the amount of wash sales deferred to next year

Print a Report


To print your report with the button in the Quick Access Tool Bar:
  1. Click the button in the Quick Access Bar .
  2. A dialog box will pop-up:

  3. Select the Printer, Print range and Copies.
  4. Press OK to complete the process.

 

 

 

Unrealized Gain/Loss Report


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.

Gains or losses are said to be “realized” when a security is sold. In general, Capital gains are taxed only when they are realized. Unrealized gains and losses are also called “paper” profits or losses, which implies that the gain/loss is only real “on paper.” This may be true from a tax perspective, but remember that a loss is a loss, whether it’s been realized or not.

The following will tell you how to run an Unrealized Gain/Loss Report.

  1. Select the item Unrealized Gain/Loss Report, you will get the following window
  2. The default date is the last day of specific finance year. You can set the date or just click OK Button, the date you selected will determine the market price of the generated report .

  3. After you selected the Position Holding Date, the following window will display :
  4. The window will display the holding security, click Download Button to download the price on specific day you selected in previous step.

  5. After downloading the price of the holding security, Unrealized Gain/Loss Report is generated as below:
Basic Functions
1 Report data information including Data Source, Create Date, Tax Payer and Page of Total
2

Display the unrealized gain or loss for all transactions in the current account and current period.

3 Display the Unrealized Gain/Loss Total Amount

The following grid give a detailed introduction about the report .

Function
Description
1.Symbol

The security name

2.Open Date The purchase date of the security
3.Action Action name of the trade
4.Qty( Quantity) The quantity of security you purchase
5.O-Price The original security price
6.Open Amount The amount auto-calculated by O-Price*Qty(Quantity)
7. Market Price The price of specific day you selected to download in Price window
8. Market Value The amount auto-calculated by Market Price* Qty(Quantity)
9.Gain/Lose The amount auto-calculated by Market Value-Open Amount
10. Gain %
The percentage auto-calculated by Gain&lose/ Open Amount
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