Originally Posted by
mispoken
It sucks. I pay my taxes quarterly, taxed as ordinary income. Paying Uncle Sam and the state 4x/yr sucks. As for the End of year tax, it’s fairly simple. All brokerages I’ve used send a summary of capital gains and that all you need to plug in. They do usually send a statement broken down of all 5000+ trades I’ve done, but ultimately the summary of P/L is all you need
I am supposed to pay quarterly, but I tell them to pack sand. The money I would waste giving to the .gov makes more in my accounts. I take the penalty. jmho, dyodd, ymmv, etc etc.
I'll bet my return is like yours. My accountant weighs it. To answer the other question somebody asked, I use Ally and they send me a breakdown of all the trades on some tax form. I don't think it actually has to be filed like that though. I'll do some research and edit this if I see something different.