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    Stock Trades

    470pitt
    Level 3
    a month ago

    I have a client that just brought in his taxes and has about 20 pages front to back of stock trades from Ninja Trade Account.  There is no 199 and when I take the proceeds from the cost basis is it different

    by at least double. How do I report this?

    Thank You

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    5 Comments 5
    sjrcpa
    Level 15
    a month ago

    Is the difference due to wash sales?


    The more I know the more I don’t know.
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    Just-Lisa-Now-
    Level 15
    Level 15
    a month ago

    Arent Ninja accts used for forex and futures?  thats probably why its doesnt match up.


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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    George4Tacks
    Level 15
    a month ago

    Maybe your sophisticated trader didn't download the 1099? https://ninjatrader.com/futures/blogs/when-to-expect-1099-tax-forms/

     


    Answers are easy. Questions are hard!
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    470pitt
    Level 3
    a month ago

    How do I report these? Take for instance if it 250Sales and 150 Basis it should be 100 but shows 200

     

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    George4Tacks
    Level 15
    a month ago

    Are they really sales? OR are they "beats" that when I sell at this price in the future I will make money OR if I don't sell, which would cost me money I take the loss on my bet. Are you sure there is no 1099 floating around. 

    This give some insight to how to report. https://www.schwab.com/learn/story/trader-taxes-form-8949-section-1256-contracts


    Answers are easy. Questions are hard!
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