Steve2 Elite    Posts: 750 Joined: 10/11/2012 Location: Annapolis, MD  User Profile | Hi Mark, If you are trading a mix of taxable and tax-deferred accounts, the IRS requires you to do wash sale analysis across all accounts (even IRAs). I would highly recommend TradeLog (tradelogsoftware.com) for those that prepare their own taxes. TradeLog supports automated import of trade histories from most brokers, enables you to consolidate any number of accounts from any number of brokers into a single TradeLog file for proper wash sale accounting, automatically generates Form 8949 and import the results into common tax preparation software packages like TurboTax and TaxAct. Also, a word on TurboTax for anyone doing lots of trades in larger accounts (>$100K). TurboTax has an field input limit of $9,999,999 (as of a year ago). If you are doing lots of trading then your total Proceeds and Costs that must be entered on Schedule D can easily exceed this limit. TaxAct does not have this limit. Steve | |
