TradeLog automatically defines ETF/ETN trades based on ticker symbol and classifies the product type/multiplier as either ETF-1, VTN-1, or CTN-1, depending on the type. TradeLog also allows a user to customize the list of defined ETF/ETN symbols in TradeLog Options. Some tax reporting requires certain types of products to be reported separately, or in a special manner. See our online Tax Topic: Understanding IRS Form 8949 Categories)
To Define these Settings:
From the User menu, click Trade Type Settings, then select the ETF/ETN tab. A list of currently defined symbols will be listed, TradeLog has over 1,300 common ETF/ETN symbols loaded by default.
Each ETF/ETN symbol is classified with a sub-type:
- ETF - represents a standard ETF or ETN, treated as a security for tax purposes
- VTN - represents an ETN structured as a prepaid forward contract, many volatility ETNs fit this classification
- CTN - represents a currency ETN, which have Section 988 ordinary gain/loss treatment for tax purposes
Default securities listed in TradeLog's Options are based on industry resources and the opinions of leading tax advisors. However, individual taxpayers are responsible for final determination of the tax treatment for securities traded. If you have questions you should consult with your tax professional.
To customize/change the ETF/ETN settings in TradeLog:
To add a new ETF/ETN symbol:
- Enter the ticker symbol in the New ETF/ETN Symbol field
- Select the appropriate Sub-Type
- Click on the Add/Update button to add the new symbol
- Click OK to apply changes to the current data file
To remove a defined symbol:
- Select the symbol from the list then click the Remove button
- Click OK to apply changes to the current data file (Note: any trades for the symbol removed will be changed to STK-1 type/multiplier)
To update a defined symbol's sub-type:
- Select the symbol from the list
- Change the Sub-Type as needed
- Click the Add/Update button to update the symbol
- Click OK to apply changes to the current data file
To restore the default list of ETF/ETNs:
- Click the Restore Defaults button
-
TradeLog will restore all ETF/ETN symbols to the default list (Note: this will overwrite any custom changes or additions you have made)
- Click OK to apply changes to the current data file
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