Individual: Accounting Service For Securities Trading Gains And Losses – One Hour

We offer our trade accounting service only in conjunction with our tax compliance service, and no longer as a stand-alone service.

Price $250.00
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Update Dec. 10, 2019: We offer our trade accounting service only in conjunction with our tax compliance service, and no longer as a stand-alone service.

As an individual, if you actively trade equities and equity options and or securities in more than one account, unless you use proper software and or professional service on all your individual taxable and IRA accounts, you will probably handle wash sales wrong and under-report or over-report your taxable income. In these cases, you can’t solely rely on 1099-B reporting because brokers use a different set of tax compliance rules than taxpayers in calculating and reporting wash sale losses. (Read Wash Sale Losses.)

How our service works

We download your actual trades for the tax year into our trade accounting solution. We also download January of the subsequent year looking for wash sale (WS) loss adjustments at current year-end, if you are not using Section 475 MTM. We will generate Form 8949 that is compliant with Section 1091 rules, and or Form 4797 for Section 475 trades. We also prepare Form 6781 for Section 1256 contracts. You can give these tax forms to your tax preparer or our CPAs for our tax compliance service.

Administration Fee: In addition to hourly billings, we charge an administration fee of $75 per year, per individual vs. entity, for the usage of trade accounting software.

Want a quote?

Email us your number of accounts (by taxpayer identification number, including IRA accounts), the approximate number of transactions, and list your brokers. Tell us if you have cash or Section 475 mark-to-market (MTM) accounting and mention if you have complex transactions if you use the cash method (straddles, offsetting transactions, etc.)

Cost calculator

Our trade accounting service averages 2 to 3 hours per year. The number of hours is contingent on the number of broker accounts, access to historical reporting, availability of trading transaction history reporting and tax statements provided by online brokers. Complications arise with inter-accounts transfers, non-US dollar transactions, and issues with commingled investment account with Section 475 MTM election. When you convert from using 1099-Bs for reporting WS to our trade accounting solution, we need to identify and manually enter WS loss adjustments deferred from the prior year-end.

We have a good idea of the total cost after we spend the first-hour review your files and situation.

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