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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?!
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To: Susan Saline who wrote (587)4/4/1999 12:21:00 AM
From: Roman S.  Read Replies (1) of 611
 
Susan, you may want to copy and paste all 3 accounts into a separate workbook specifically for the IRS. On one sheet, copy and paste all the trades, then sort by purchase date, so that it is in chronological order. Then add the columns and come up with your total gain or loss, close to the format of schedule D. But with 3 accounts, you may want to keep them separate and tally them up with a 3rd page showing your gains/losses from each account with a combined gain/loss for your bottom line on sched D. Keeping them separate will enable the IRS to compare your total purchases and sales with the figures they receive from each brokerage, thereby eliminating their need to look too close if your figures are within a hundred or so dollars from what the brokerages report. Even if you do combine them, they shouldn't have a problem adding up the 3 figures from separate brokerages and coming up with a sum that equals what you have on your combined accounts spreadsheet. I think it will come down to your personal preference.

I also enter my trades into an Excel spreadsheet as I get the confirmations in the mail. Definitely eliminates headaches of trying to remember what you did and when and why. Especially if you buy a 500 share lot and sell 300, then buy another hundred and then sell all at different times of the year.
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