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Author: TheBadger Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124931  
Subject: Re: daytrading&tax record keeping.. Date: 1/27/1999 11:47 AM
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I am pretty much in the same boat as you are, however my trading frequency is a bit lower than yours. I started out using the "tax lot" tracking module in Fidelity's "FOX Express" about 4 - 5 years ago; only to learn that it didn't work correctly. I still trade with Fidelity but no longer use their "tax lot" tracking system. Instead, I build my own Lotus spreadsheet. (See my post # 9047). I tend to post to my spreadsheet every afternoon, right after 4:00 PM EST. Then, I update the spreadsheet by comfirming the numbers from the paper confirmation received in the mail to the numbers in the spreadsheet, particularly for those $.38 pesky SEC fees on sale of a NYSE stock.

Lastly, once a year, I sort the spreadsheet into STCL, STCG, LTCL, LTCG & print it. Then I post 4 entries to Schedule D and attach my printouts.
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