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KerryS

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Everything posted by KerryS

  1. Hi traderjoe, My advice is to check with your broker. My broker states that the transactions history can be exported to TurboTax and Quicken software for tax purposes.
  2. GreenTraderTax is excellent. Thank you!
  3. My tax lady was a bit bewildered when I brought in my taxes this year so I'm searching for someone who specializes in self-employment/small business ownership for next year. Also looking into the software to download all transactions. I understand business expenses (scanners/hardware/education) can be deducted as business expenses as well. Going to speak with a family friend who owns his business later this week. But so far, would rather not do it myself except for the broker transactions part. My broker, Schwab, readily recommends MTM in December for anyone interested. Regarding pattern day trader, they said you are flipped to that status if you are placing 5 day trades within a 5 day period (plus must have 25K AT ALL TIMES in the account cuz that will freeze you out from day trading too). Schwab has been very supportive and responsive. I don't mind paying a bit extra in commissions, it's part of the tax cost basis anyways. I will update this post if I find new info re: taxes in U.S. Also if anyone knows or can recommend a really good tax specialist in the U.S. please let me know. I don't mind mailing them. a side note: My neighbor retired from the IRS after 25 years and she says the IRS is way more interested in the people who aren't paying tax in the country than the people who do, and just may not be doing it exactly right. Just FYI, not saying free pass to do taxes wrong.
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