TradeLog Software announces new release including enhanced features for generating accurate, IRS ready Form 8949, plus additional tax reporting needs for active traders and investors

Just in time for tax season, TradeLog® Software has announced the release of TradeLog version 12 available for download from http://www.tradelogsoftware.com. Already the choice of thousands of active traders, investors, and tax experts, TradeLog is the premier tax accounting software available for complex reporting needs such as accurately calculating capital gains and wash sales for IRS Schedule D Form 8949.

What’s New with the TradeLog Version 12 Release: New graphical interface and updated menus make navigation easier than ever. Improved functionality and support make TradeLog version 12 faster, more reliable, and more accurate. The latest release includes the 2012 version of IRS Form 8949, which now applies to both personal tax returns (1040) as well as entity returns (such as 1065, 1120, 1041). The software includes enhanced reporting of short sales with application of the constructive sale rule, including automation to determine which day to report for IRS Form 8949. 

Enhanced support is added for Section 1256 contracts to ensure that the special tax benefits of these securities are not overlooked (plus Tradelog MTM users can now report totals for IRS Form 6781). TradeLog version 12 also supports special rules for wash sales in IRA accounts. Users can import their IRA trade history from supported brokers and TradeLog also provides tools to help prevent IRA wash sales, and ensures that traders generate IRS compliant reports.

Version 12 allows users to manage multiple brokerage accounts (and even more than one accounting method) in one tax year data file. Users can now generate combined reports and run performance analysis and historical reporting across all accounts at any time. TradeLog supports importing trade history for nearly 40 online brokers and clearing firms, including newly added support for Cobra Trading, OptionsHouse, and Wedbush, plus TradeLog’s specialty import feature allows users to import data from non-supported brokers.
What Stays the Same

TradeLog remains the most robust tax software with the best technical and comprehensive support on the market. TradeLog is the top choice of leading tax experts, including Robert Green, CPA., CEO of Green & Company (author of The Tax Guide for Traders); and Kaye Thomas, founder of Fairmark Press, noted tax lawyer, and former member of the Harvard Law Review. Simply put, no other trader tax software offers the automation, features, and accuracy of TradeLog.