Overall Survey Results:


Survey on Trade Accounting Software/Solutions for Securities


1Required What software/solution do you use for trade accounting on
securities? 
 
Answer
0%100%
Number of
Responses
Response
Ratio
TradeLog by Armen Computing
   
72 43.1%
Gainskeeper by CCH
   
16 9.5%
TradeAccountant by Sync Essentials
   
1 <1%
TurboTax or similar tax software
   
32 19.1%
Broker-issued profit and loss reports
   
51 30.5%
Your own spreadsheets
   
45 26.9%
Other
   
10 5.9%
 Totals167100%

2What
problems if any do you have with your solution provider?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Cost-basis reporting and reconciliation with Form 8949
   
37 31.8%
Wash sale loss deferrals
   
20 17.2%
Section 475 MTM accounting and Form 4797
   
11 9.4%
Identification of Section 1256 contracts
   
19 16.3%
Options
   
25 21.5%
Other
   
28 24.1%
 Totals116100%

3Do
you need help with trade accounting? 
 
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes, prefer a trader tax CPA
   
41 24.6%
Yes, a non-CPA is fine
   
8 4.8%
No
   
57 34.3%
Maybe if the price is right
   
54 32.5%
No Responses
   
63.6%
 Totals166100%

4Do
you rely on broker-issued 1099Bs for securities? 
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes, I import 1099B (or P&L report) into tax preparation software/solution
   
47 28.3%
Yes, I just give the 1099B and P&L report to my accountant
   
32 19.2%
No, I use a software/solution which can override the 1099B
   
65 39.1%
Other
   
15 9.0%
No Responses
   
74.2%
 Totals166100%

5Have
you found errors on 1099Bs for securities?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes, with wash sales
   
41 24.8%
Yes, with cost basis reporting
   
37 22.4%
Yes, other errors
   
30 18.1%
No
   
45 27.2%
Not sure
   
50 30.3%
Other
   
4 2.4%
 Totals165100%
6Do
you report each securities trade or use summary reporting?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Yes, report each trade line-by-line on Form 8949
   
72 43.3%
Yes, report each trade line-by-line with MTM on Form 4797
   
28 16.8%
No, use summary reporting and "details available on request"
   
51 30.7%
No Responses
   
159.0%
 Totals166100%

7What
do you value most in a trade accounting solution?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Price
   
49 31.0%
Accuracy on wash sales and tax treatments
   
84 53.1%
Imports data from broker
   
62 39.2%
Ease of use
   
78 49.3%
Other
   
4 2.5%
 Totals158100%

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