TradeMatcher.com
More details regarding the process
| Step 1 |
Normally, the first step is that you (our customer)
will log on to your brokerage account and download
your trade history as a CSV or Excel file. Once
you have downloaded it to your computer, you will
simply attach it to an email to wdurden@tradematcher.com
indicating you would like us to match the trades and
generate your Schedule D documents.
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| Step 2 |
If you know that you had open positions going into
the trading year, you will also need to gather the
basis information for those trades as we will need to
add them to the beginning of the dataset.
Typically, you would include that information in the
body of the email with the attachment. Most
brokerages will have an online option that will show
your positions at a year end. If you are having
difficulty finding the information, a call to your
brokerages support number will generally result in
them showing you how to obtain that information.
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| Step 3 |
Assuming you have sent the email with attachment to
us on a normal business day during business hours for
the east coast, you should expect an acknowledgment
from us within 2 hours letting you know we have
received your data set. We will also let you
know when you should expect our results if everything
is included which is ordinarily within 24 hours.
If you do not get an acknowledgment within 2 hours,
please give us a call as we always attempt to respond
immediately, and if you haven't heard from us within 2
hours we want to make sure something hasn't gone awry
in the addressing, etc.
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| Step 4 |
At this point we will clean and format the data set
you sent so that it is in the form we need for our
matching programs. We will then run a
preliminary "straight match." This
process will generate a list of matched trade
transactions without any wash sale calculations.
However, more importantly, it will identify any items
which were not matched. Items that were not
matched would typically be the result of 1) the trade
actually being open at year end in which case it is
correct; 2) the result of corporate activity such as a
split which we could then identify and correct; or 3)
a carryover from a prior year which was forgotten
originally. If there are items that are shown as
still open at this stage, we will notify you to make
sure that they either were still open or so that
together we can identify what the status is and make
appropriate adjustment before final processing.
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| Step 5 |
Once we have reconciled any issues, we will then run
the next stage of the processing which matches the
transactions with the application of the wash sale
rules. Additionally, at this stage PDF documents
of the Schedule D and Schedule D-1 continuation pages
are produced.
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| Step 6 |
Next we review the results against a checklist of
factors to make sure nothing was left out. Once
everything looks correct and in order, we send the
results as attachments to an explanatory email for
your review and acceptance, and we include the
directions to the online payment area.
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| Differences with regard
to Mark to Market accounting |
For those traders who have elected mark to market
accounting, the process is quite similar, except that
in addition to the trade history we will also need you
to collect the stock symbols and the number of shares
open at the year end for the current year and at the
year end for the prior year. Our software will
retrieve the historic pricing information, we will
simply need the number of shares and symbol (and an
indication if the position was a short position
otherwise we will assume it designates a long
position). For instance, if we are generating
2008 tax documents we will need the positions still
open a the very end of 2007 and the positions still
open at the very end of 2008. We would prefer
the information in the form:
1000 ibm
2000 aapl (short)
150 xyz.
etc....
In addition, the documents that will be generated
for mark to market traders are the Form 4797 and a
worksheet for that form which contains the full line
by line detail required by the IRS and completed in
accordance with current instructions. If you
should desire standard Schedule D documents as well we
can gladly include those also.
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Call us at (912) 897-0435
if you have any additional questions.
$ 99.95 covers any single account for a
single tax year no matter how many trades
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Have questions or need more information?
Feel free to contact
us for specific details. We are always happy
to answer your questions. Our primary growth is by
word-of-mouth, and we would be delighted to add you to our list of
satisfied customers.
(912) 897-0435
wdurden@tradematcher.com
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