TRADERS
SOFTWARE: TRADELOG® FOR GREENTRADERTAX
TradeLog® completely automates your stock, options and futures trades, and tax accounting. Save days of work and professional fees by using the program to import all your trades (prior and current years). The program generates IRS-compliant Schedule D (cash method with wash sale reporting) and Form 4797 (mark-to-market method with Section 481 reporting) which you can attach to your tax return.
Click here to visit the TradeLog® for GreenTraderTax landing page and full TradeLog® Web site. Take the "Quick Tour" of the program and download a free trial copy. You will see how easy it is to use. You can then buy the full version of the program from TradeLog® and download it immediately.
Make sure to buy the program through our site link
above, so it comes with support from GreenTraderTax. We are the
leading reseller of TradeLog® software program/subscriptions.
Strong recommendation from Robert A. Green and all our CPAs:
TradeLog® is the only trade accounting program on the market that our CPAs are comfortable using at tax time; when we sign your income tax returns. Although we try to work with other solutions that you may have, most often we find that it's a problem for us. We often find errors in other programs on wash sales, MTM reporting, section 481(a) adjustments, securities versus futures tax treatment and much more. Or, other solutions don’t even provide all of this absolutely required tax information in the first place. Our problem is that we need to figure out these errors and then fix them. Most programs don’t allow us to make adjustments and this all takes time that winds up costing you money. We don’t want to charge you more and we don’t want to be less sure of your results.You and we need to be sure your complex trade accounting is right and the only way to be sure of that is with TradeLog®. Some brokers provide trade accounting reporting, but it’s often also wrong on the same above issues. Plus, you need to do wash sale reporting across brokerage accounts and any one broker will only send you a report on their one brokerage account.
Bottom line, it’s very possible that your trade accounting will be wrong unless you use TradeLog®.
The program is very reasonable and it works with almost all the leading brokers and downloads are possible in other ways too. Get the program to avoid problems with the IRS. Don’t blow your trade accounting and overpay your taxes! Or underpay and get big penalties and interest.
Armen Computing Ltd., the owner of TradeLog® recently changed the name of GTT TradeLog® to TradeLog MTM®; the version with mark-to-market accounting (MTM). We at GTT brought MTM tax treatment to TradeLog® about eight years ago and we have continued to provide tax-knowledge and support to the product development over the years; and we will continue to do so. The new name is less confusing about who the owner is; it's Armen Computing Ltd., and not GTT. In no way does this name change from GTT TradeLog® to TradeLog MTM® in anyway reduce GTT's strong enthusiasm and continuing support for TradeLog®. Thousands of our clients use TradeLog MTM® (and other versions) and our CPAs really appreciate having this program used for tax preparation work.
Please continue to upgrade your TradeLog MTM® (or other TradeLog®) subscription through our Web site so it also comes with our support during the tax preparation process, or with our other services. Click here..
TradeLog® and GreenTraderTax:
Accounting for your trades can be a real headache and many traders
are lost when it comes to accurately determining their trading gains and
losses either subject to wash sale reporting or mark-to-market accounting.
Online and direct-access brokerage firm reports (for capital gains and
losses) are not reliable enough to include with trader tax returns; as
there are often missing items and no consolidation for wash sale purposes,
etc. Hyper-active traders should use good off-the-shelf software for trade
accounting. But even that is still not good enough.
We highly-recommend that our professionals review and reconcile your trade accounting program results.
Have
our CPAs review your TradeLog® data files, trader tax status issues
and much more too. Remember, 1099-Bs for securities trader’s only
report proceeds on sales of securities; and not net capital gains and
losses, options or wash sales. It’s your responsibility to get it
all right and without TradeLog® it’s going to be a crapshoot.
We will tackle many nuances in trader tax treatment, complex tax treatment
for your trades, override program treatment when appropriate, and tie
it all into an excellent trader tax return. Make any misstep along the
way and the consequences can be huge!
Click here to learn more about our trade accounting services.
Tax tools are important, but the final results in a tax return are what
matter most. Let our professionals guide you through the entire critical
process; going from brokerage firm results, to trade accounting program
tools, to final tax return results.
TradeLog® is easy to use and it also comes with free
product support from Armen Computing, Ltd. and a toll free number.
If you prefer more help, GreenTraderTax can set-up the program for you
and also do your annual trader tax
accounting. It all ties in nicely with GreenTraderTax's
tax preparation services. Simply email us your TradeLog® data
file at year-end and tax preparation is a snap.
Note that the leading trade accounting programs differ on some key elements
of tax treatment and there is some leeway and nuance here. Let GreenTraderTax
navigate the tax laws to find the best reliable results for you. If you
get audited by the IRS, software companies and brokerage firms don't handle
your defense, but we do!
This year, more than ever, is a good time to switch to TradeLog®.
The IRS is forcing taxpayers to list each securities trade on their tax
returns. Learn more about this in Robert Green's April 2006 article for
Active Trader and/or on our
blog.
- Both traders and investors need TradeLog® to report wash
sales, and few other programs or solutions can be counted on for
handling wash sales as correctly as TradeLog®.
Specifically TradeLog® handles wash sales between short loss trades and long trades and between stock and options trades. Other programs have trouble here.
GreenTrader's accounting formulas and worksheets are good as a last resort, but they do not provide for wash sales. The one leading competing program to TradeLog® has some known problems with wash sales. Don't overpay your taxes from making errors on wash-sales reporting.
The typical trader has many wash sales; these are losses which must be deferred until the next tax year. Wash sales are a difficult chore with only a few trades; with the thousands of trades an active trader makes, it can be next to impossible.
TradeLog® can make the entire process much easier by automating wash-sale reporting and helping active traders create tax reports.
- Most online brokers are supported by TradeLog®, and data can
be downloaded directly into the program. This removes the need for
traders to enter data by hand; this would be too time-consuming to
do by hand, and too expensive to pay an accountant to do. Plus, manual
entries can lead to errors.
TradeLog® takes the data and matches buys and sells, calculating profit/loss. The program uses the IRS's "first in, first out" rule to match trades, but that can be switched if necessary. TradeLog® handles all wash-sale identification and adjustments.
- After all the data is entered, TradeLog® prints out a report
that can be attached to Schedule D, a PDF file that can be e-mailed
to an accountant, and/or a spreadsheet with all the pertinent information.
The TradeLog® reports are compliant with IRS rules for trade-by-trade
attachments.
- Even if you don't qualify as a business trader under IRS law, you
can still benefit from TradeLog®. Any investor who has more than
a few buys and cells will benefit from the automation TradeLog®
provides.
- Besides making your tax preparation easier, TradeLog® can also help your trading by providing you with information about past trading history and current positions.
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There are different versions and price points for TradeLog® designed for traders of different activity level. TradeLog® is the unlimited, top-of-the-line version for business traders that use mark-to-market accounting.
TradeLog® and GreenTraderTax in the news:
Click the below media logos to read all our excellent reviews. Most leading
brokerage firms also highly recommend TradeLog® and they work closely
with us to smooth the download process.
Barron's has positively reviewed and recommended GreenTrader's
tax guides, TradeLog® software and tax services for frequent
traders every year since 1999.
February 12, 2007, Barron's, Electronic Investor, Tax Software for Serious
Investors, By Theresa W. Carey.
"FREQUENT TRADERS WHO DO THEIR OWN taxes are either control freaks (my category) or very comfortable with the ins and outs of tax accounting. Crazy is another possibility. In any case, do-it-yourselfers of all types need tax software -- either packaged or online.
Any tax program should be able to deal with income and deductions, but the serious investor needs to compile an accurate Schedule D, covering all transactions. There's no shortage of software alternatives. Sorting through them -- particularly the jumble you see in stores -- is the problem.........................
........One solution for traders with reams of taxable transactions is TradeLog (http://www.armencomp.com/tradelog/)), published by Armen Computing. We like TradeLog for active stock and options traders. It does a much better job of tracking options transactions than Quicken or Money, and it's a good tool for short-sellers. TradeLog can also help you track futures transactions, which aren't specifically addressed in other programs.
TradeLog offers five versions, keyed to transaction volume. TradeLog
200, which covers up to 200 trades, is $69. The top-of-the-line GTT TradeLog,
which handles unlimited transactions and is aimed at those needing mark-to-market
accounting, is $349. GTT TradeLog is also supported by Green Trader Tax
(www.greentradertax.com), which
provides tax advice for frequent traders."
Bottom Line.
For more than eight years, GreenTraderTax (GTT) put our name on GTT TradeLog®
(now TradeLog MTM®) because we work hard to make it the best tax product
on the market. We strongly believe that it's the best solution in the
marketplace for hyperactive traders. Top brokers recommend their hyperactive
traders use TradeLog®; the media thinks its best and thousands of
happy customers do, too. Most importantly for GreenTraderTax, when we
prepare trader tax returns, we are most confident in the trade accounting
when it's done by TradeLog®.
If you have questions about trade accounting, e-mail us at info@greencompany.com or call us.