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Strategies & Market Trends : Are you considering quitting your dayjob to daytrade?! -- Ignore unavailable to you. Want to Upgrade?

To: Tom DuBois who wrote (447)	1/24/1999 4:58:00 PM
From: LiveWire	Read Replies (4) \| Respond to of 611

I was told by my CPA that must, but he hasn't filed for a day trader before so he's going to research it. From reading the link below a few months ago, I read that some have just filed there net loss/gain with the statement 'detailed data available on request'. I'm going for a CPA with all the answers. Income Taxes and Record Keeping Message 7422414

To: Tom DuBois who wrote (447)	1/31/1999 7:43:00 AM
From: Tracker	Read Replies (2) \| Respond to of 611

The IRS requires you to list each trade individually Quicken is probably the easiest way to do this..Many brokers are allowing you to download you trades into quicken but I prefer the old fashion way. I simply enter my trades manually at the end of each day. If you use RealTick III, there is a program call Trade Tracker99 that will keep logs of your trading activities and can be found at pcstartups.com hope this helps

To: Tom DuBois who wrote (447)	3/17/1999 1:13:00 PM
From: David Harker	Read Replies (2) \| Respond to of 611

>As a newcomer to trading, I'm faced with my first tax return and >have a potentially dumb question. Must I list EVERY transaction >separately with gain/loss? I give my accountant a spreadsheet printout showing all my trades, I religiously update the Spreadsheet when I get a confirmation in the mail from my broker. I trade several dozen times a year. On my actual tax form, he enters my total short-term capital gains, and in the section of the form where the trades are normally entered, he puts "see attached statement A" -> which is the spreadsheet printout showing buy/sell dates, stock symbol, cost of purchase (less comm), total proceeds (after comm) and net gain/loss, for each trade. In a non-printed part of the SS, I also compute avg gain/loss per trade, ratio of winning trades to losing trades, etc. This is all in Clarisworks SS on a MAC... simple. The data is entered gradually, as trades occur, rather than all at once at tax time, and the IRS gets what they want...