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Many traders think they can rely solely on their broker-provided 1099-B for tax reporting.
But you’re smarter than that! You work hard to make intelligent trading decisions and you want to take control of your taxes. That’s why YOU need TradeLog.
While brokers are required to provide you with 1099-B reporting, the IRS requires you to make additional adjustments - especially for common wash sale situations your brokers are not responsible for. And since the 1099-B lacks important details, making those adjustments can be nearly impossible.
Many traders have also found the 1099-B increases their tax liability - causing them to owe taxes on more than they actually made… or in the worst cases: even owing taxes when they actually lost money!
Since the 1099-B isn’t received until after
the tax year is completed, you may be left feeling helpless.
TradeLog empowers you to take control of your trader taxes!
Our application imports your actual trade history from nearly every major broker - matching trades and applying the IRS wash sale rules required for taxpayers. The result is IRS-ready trader tax reporting.
Harmful wash sale effects cannot always be avoided, but TradeLog’s algorithms work to
reduce negative consequences whenever possible, while still in compliance with IRS rules.
And since you can use TradeLog throughout the year, our powerful reporting can help you understand how wash sale rules are affecting your bottom line, and even take steps to avoid potential disasters before it’s too late!
Considering electing trader tax status? TradeLog gives you the reporting you’ll need to take advantage of this and many other beneficial situations.
TradeLog is about more than just creating tax reports. We provide comprehensive education topics for trader taxes and extensive support for using our application - including real live tech support people!
Rather have someone else prepare your trader tax reporting? Our services team provides turnkey solutions allowing you to focus on your trading… or something else.
Thousands of traders and professionals have trusted TradeLog with their trader taxes for over 2 decades.
Find out for yourself how TradeLog can help you take control.
Visit tradelog.com to learn more and start using TradeLog for free!
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