Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Susan Saline who wrote (587)	3/23/1999 7:48:00 PM
From: Tom DuBois	Read Replies (1) \| Respond to of 611

Many others have recommended Microsoft Money. I'm using it for the first time. I come home each night and enter my trades while they are fresh in my mind and MM does the rest. Sets up Schedule D columns, matches lots and does the math. As I said, I've not filed with this system yet, but seems like I just have to print and attach. Is there a downside to MM that anyone has found??

To: Susan Saline who wrote (587)	4/4/1999 12:21:00 AM
From: Roman S.	Read Replies (1) \| Respond to 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.