I did not mean to suggest that IB gives their customers a user-friendly, meaningfully formatted report sutable for IRS reporting. What they give...
Excellent observation. What's your address again? :p
I respectfully suggest that perhaps you do not fully know what IB provides, or how to utilize it. I work with their reports nearly every day this...
Many brokers already do, and it gets better each year. Ameritrade is one of the best, IMO, as you can run the trade matching reports in numerous...
The fact is the IRS does get thousands of individual trades reported, or millions of trades for that matter. All one has to do is look at their...
Absolutely, odd how they have such extremes in reporting. Keep in mind though that the 60/40 rule has the potential of being eliminated to cover...
For those who might have difficulty clicking the link to the official IRS web site, here's another snipit from there: Q. What are the...
http://www.irs.gov/businesses/small/article/0,,id=153349,00.html You must enter the details of each transaction on a separate line. If you have...
The exemption is available to "traders in securities" (as opposed to a PDT). To avail yourself to the exemption you must elect M2M by the due...
You could be correct, you must list each separate transaction (with reasonable, allowable aggregations) BUT possibly only if you have the fairly...
The_End, You are basically correct. The Sec 1256 M2M is the default. The Sec 1256 M2M treatment basically just treats all open positions at...
Looking at the same instructions you referred to (form 6781, Part 1, Line 1, found on page #3) the rules seem failry clear that the default is to...
In late April new commissions and margin rates will be coming. Currently, Ameritrade commissions are $10.99 for market or limit orders from 1...
Well this certainly is not rocket science! The instruction for IRS form 6781 are merely 3 pages long and they clear state when each separate...
Right off the page you provided the link from: Note: You may read elsewhere (as I have) that this election may be filed by itself. The IRS...
There's almost no situation I can think of where having a properly set-up LLC would not offer SOME benefit. The downside to an LLC is the extra...
nkhoi, The law was passed in 1997 and the IRS rules were made I believe in 1999. The M2M rules are easy on the surface, but quite complex when...
IRS (and the Congress) certainly can pick on big taxpayers and not the small ones. It's done every day. It is not "illegal" to buy and sell in...
I wonder how long ago was the examination? As disclosed in an exclusive interview in Ed Slott's IRA Advisor newsletter a couple months ago...
This is a snipit from the SEC web site that uses the proper language and briefly describes the procedure. Wash Sale Activity 19. Between...
Separate names with a comma.