Have More Than 10,000 Transactions on TurboTax? Here’s The Fix
01/24/2024
As an active trader, dealing with taxes can be a challenging task, especially when you have a high volume of transactions. Traditional tax software like
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Navigating Form 8949: A Guide for Tax Professionals
08/30/2023
Navigating Form 8949: A Comprehensive Guide for Tax Professionals Every tax season brings with it a unique set of challenges for tax professionals, and one
Preparing Taxes for Active Day Traders: A Comprehensive Guide
07/17/2023
Active day traders play an essential role in the market’s dynamism, carrying out frequent trades that respond to short-term price movements. This daily financial juggling
Section 1256 Contracts – What You Should Know About Them
12/07/2022
If you are a trader of index options, you should know the benefits of Section 1256 contracts. These are tax-advantaged contracts that can provide you
How to Qualify for Trader Tax Status
11/09/2022
You’ve been day trading for a while, and you’ve been pretty successful at it. You’re thinking about taking the plunge and going full-time. But there’s
What are Wash Sales?
10/26/2022
A wash sale is a transaction where an investor sells an asset at a loss and then repurchases the same or a “substantially identical” asset
How Day Traders and Investors Calculate Capital Gains Tax
10/26/2022
When it comes to day trading, one of the most important things to understand is how to calculate your capital gains tax. This will ensure
ROTH IRA or a Traditional IRA: Which is Right for You?
10/26/2022
If you’re like most people, the world of IRAs and investment accounts can be confusing. There are so many different options, and it’s hard to
Wash Sales and Retirement Accounts – What You Need to Know
10/25/2022
A wash sale is when an investor sells a security at a loss and then buys the same or substantially similar security within 30 days.
The Difference Between an IRA and a 401(k)
10/25/2022
Individual Retirement Accounts (IRAs) and 401(k)s are two of the most popular retirement savings plans available. Both have rules and regulations and their own benefits
How the IRS Determines Wash Sales
10/25/2022
The IRS defines a wash sale as “a sale of a security at a loss and the purchase of a substantially identical security 30 days
What is the IRS Form 1099-B?
10/25/2022
The 1099-B is an IRS form used to report proceeds from broker and barter exchange transactions and covered securities transactions. Day traders use this form
How do Day Traders and Investors Report Taxes?
10/05/2022
Many people want to know how stock traders report taxes. The answer may seem complicated, but it doesn’t have to be. Here is a brief
The Benefits of Trader Tax Status
10/03/2022
Are you a day trader? You may be eligible for Trader Tax Status (TTS) if so. TTS is a special tax designation that can save you a lot of money come tax time. This blog post will take a quick look at what TTS is and how it can benefit you.
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