Prepare your schedule D and MTM form 4797

Discussion in 'Learn how to trade or invest by asking questions' started by Trudy12, Jan 21, 2010.

  1. Trudy12

    Trudy12 New Member

    Neutral Trend Inc now announce the release of TradeMax ®2010, a full featured tax software specifically designed for active investors or traders who have multiple accounts to manage their trade data, maximize their gain/loss strategy, prepare their Schedule D or Mark to Market form 4797 .(
    TradeMax 2010 facilitate the user to import trade data from all kinds of formats files, handle an unlimited number of trading accounts can be combined for tax purpose, accurately calculate capital gains & losses and wash sale across the individual or combined accounts and make necessary adjustment for next tax year. prepare and generate various reports in minutes, not days which can be exported to popular tax software such as TaxCut®, TurboTax®, users can analyze your trading performance, manage investments and portfolios easily by ten or more generated reports. In addition, users can track investments easily by updating prices and retrieving transactions from the internet with the push of a button. Using a software as TradeMax can help the trader to save more time and money. The key features of TradeMax® 2010 include the following:
    1. Track your trade
    l Comprehensive Corporate Events Module (New!)
    Recording various corporate events, on one hand, which helps you maintain your trading history in the event of corporate actions such as stock splits, stock merge, spinoff and symbol changes, expand the portfolios and enable you to cross-reinvest income from any investment: on the other hand, users can better adjust the cost basis of the stock by that amount and track incomes, expenses, credits, debts and banks transactions.
    l Intelligent Option Cost Basis Adjustment Function (New!)
    Auto- detecting Assigned, Exercised and Expired option, TradeMax® 2010 also defers cost to corresponding shares with its Option Adjustment function.
    l Powerful Forex Rates Wizard (New!)
    Auto-convert the transactions under Non-USD currency into USD figures using downloaded Forex Rates through its powerful forex Rates Module.
    l Price History Module (New!)
    Help you make more favorable and correct investment through tracking the price history of the security you downloaded and generate unrealized gain/loss report.
    2. Monitor your capital gain easily
    l Setup and Combine different accounts to monitor your capital gains
    Users can setup different investment type accounts among whole family and combine two or more accounts into one to manage your trades and monitor your realized/unrealized gains & losses for current positions

    l Black List (New!)
    [FONT=宋体] [/FONT] TradeMax ®2010 allows users to filter items you don't want so as to generate the specific report which focuses on certain items.
    l Run different reports to monitor your capital gains
    Users can analyze your trading performance easily with the help of various generated reports,
    track market value of the securities on daily basis for monitoring with Daily Market Value and report their trading activity on Form 4797 with Mark to Market for Form 4797 report, which can be exported to PDF, EXCEL, WORD or TEXT files.
    3. Handle wash sales
    Neutral Trend TradeMax® 2010 properly calculates various Wash Sale scenarios. TradeMax®2010 provides calculation rule with Low-to-high levels applying to different capital losses and generates your reports based on the selected wash sale calculation rule.
    4. Prepare schedule D
    l Powerful importing module
    Neutral Trend TradeMax®2010 includes lots of preset profile to support most brokers. Users can import data file with the following extensions: *.csv, *.txt, *.xls, *.qif, *ofx, *.qfx, *tlf., *tdf .
    TradeMax®2010 also provides a flexible format reorganization algorithm which allows users to customize their own format.
    l Multiple transaction lot matching methods
    Neutral Trend TradeMax® uses strict "First In, First Out" (FIFO) trade matching as a default method and also allows user to "Force-Match" specific trade transactions into particular tax lot so as to meet your tax filling needs accurately and efficiently.
    l Simplify tax preparation
    Neutral Trend TradeMax® 2010 can assign short trade, convert short / long position to simplify the reporting of security performance for trade analysis and calculates Wash Sales automatically
    5. Data Security
    TradeMax®'s data files are stored on computer in encrypted form. It can't be viewed with third party text editor.
    6. Automated Web Updates
    It only takes a matter of minutes to keep your TradeMax software current. With one click on pop-up dialog box each time you run TradeMax on your PC, you are prompted to download and install the latest update.

    Pricing and Availability

    TradeMax® Basic is available at an estimated price of $69.00 USD per 12 months subscription.

    TradeMax® Standard is available at an estimated price of $119.00USD per 12 months subscription.

    TradeMax® Deluxe is available at an estimated price of $169.00 USD per 12 months subscription.

    TradeMax® Premier is available at an estimated price of $297.00 USD per 12 months subscription.

    All TradeMax® products have trial version free for download online. Trial version has limited function whicgenerates report for transaction between Jan to Jun.

    All their products come with an unconditional 30-day money back guarantee. If you are not satisfied with the program, notify us within 30 days of purchase and you will get all your money back.

    All TradeMax® products are available today
    Company web-site:
    Direct download link:
  2. WolfPickle

    WolfPickle Member

    does anyone use these guys or even trade enough to need them?
  3. Monk12

    Monk12 New Member

    My broker is Morganstanley, does this software support??
  4. Trudy12

    Trudy12 New Member

    Morganstanley is one of the supported brokers in TradeMax, and TradeMax can import your trade data from Morganstanley website directly, you just need to enter your user name and password in TradeMax's importing module, your trade history is imported within seconds.
  5. Monk12

    Monk12 New Member

    I have tried TradeMax, it's really easy to use.
    I heard that the election of Mark to Market can avoid washsale, how do you think about it ??
  6. Trudy12

    Trudy12 New Member

    There are three potential disadvantages to electing mark-to-market:

    * No capital loss carryover: Capital losses can only be offset by capital gains. If you are carrying forward a substantial capital loss, beware: by selecting MTM, your gains would be considered ordinary income moving forward, hence only $3,000 per year could be used to offset your capital loss.

    * Loss of long-term capital gains: Forex/futures traders who deal mainly with 1256 contracts typically avoid MTM in order to retain the advantageous long-term capital gains tax rate on 60% of their earnings.

    * Election is permanent: As an individual trader, once you have made the MTM election, you maybe stuck with it. You can petition the IRS, but don't expect leniency, especially if there is a tax advantage to you. Below, we will see how a Traders Accounting tax professional can help you around this obstacle.
  7. Candie

    Candie New Member

    Wife and I trade with in three seperate joint accounts, three different electronic brokerage companies.

    Queston: Example below is the trading as if it is the same stock.

    For wash sale purposes do I calculate by broker, or do I look as if All activity from the three were as if they are one brokerage?

    For Example

    1/1/2009 TD Ameritrade Buy 1000 shares $5000
    1/1/2009 Scottrade buy 1000 shares $5000
    1/1/2009 Interactive Brokers buy 1000 shares $5000

    1/10/2009 TDA sell 1000 shares $4500

    1/25/2009 Scottrade, buy 1000 at $4000

    2/4/2009 TDA buy 1000 at $4000.

    In this example I do, If I understand the rule, I do not have a wash sale on the TDA account... But I do have a wash sale if I have to lump trading from all three accounts as if they are one account.

    If all three are looked on as one, then it would be extreme complex...

    Thanks in advance,
  8. Trudy12

    Trudy12 New Member

    I would humbly suggest that you try to keep your trading for a given stock in one account at a time to simplify your paperwork at tax time. Ditto if you hedge your positions via options or via box positions during the year. Keep it all in one account at a time so you can keep track of those wash sale issues (ditto for constructive sale rule issues too on hedged positions).

    If you bounce around between accounts, you'll eventually make such a mess that you'll either be unable to figure out your SCH D entries for your own tax return, or if you take your paperwork to a tax professional, they will probably have a rather extensive 'tough love' discussion with you on this point - something along the lines of 'if you do this again, find yourself another tax pro to deal with this mess'!

    Now I'm assuming these accounts your wife and you have are under your SSNs, but if you have then in business entities, you'll have this same situation if they are controlled entities (i.e. you and your wife own 80% or more of them). And if you think cleaning up a mess of this sort is bad on a 1040, try dealing with SCH D wash sales and SCH L/M accounting adjustments on two or more business entity returns .
  9. LongArm

    LongArm Member

    Interesting that the above question by "Candie" and reply by "Trudy" are word-for-word exactly the same as another Q&A from the Fairmark forum back in January. Wow, what are the odds?
  10. Trudy12

    Trudy12 New Member

    Oh,:proud:, Thank you for your kindness for reminding that of me..
  11. LongArm

    LongArm Member

    And your writing ability has mysteriously taken a dramatic turn for the worse, LOL.
  12. Trudy12

    Trudy12 New Member

    :) Actually, TradeMax offers free trail to download and welcome the feedbacks from the active traders who tried this.. We just want to improve our software in all-round way so as to serve different needs.
    Complicated Wash sale scenerioes such as the case mentioned above can be figured out very well in TRADEMAX..
  13. Trudy12

    Trudy12 New Member

    TradeMax is now giving out Free Registered Code again!

    Begin on June 12th, End on September 12th 2010!

    Free Registered Code:


    After you enter free registered code of TradeMax , All functions of four TradeMax versions can be activated, but 200 records limited!

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