How GainsKeeper Works

With GainsKeeper you can aggregate your multiple brokerage accounts enabling accurate gain/loss calculations and Schedule D generation.  After you have created your accounts in GainsKeeper, you will need to record your trading history.  Transactions can often be imported directly from your broker.  Other methods for recording transactions include importing a QIF file from Quicken or Money, using our Excel template or manual entry.  GainsKeeper's reconciliation tools allow you to research and resolve portfolio discrepancies at your convenience instead of at the time the transactions are imported. 

 

Investors will have the option to have the trades in their GainsKeeper accounts processed by the "highest cost in, first out" method, which can be a more tax efficient strategy to consider using when you own multiple tax lots of the same security.  With HIFO, securities are sold from the lots with the highest cost basis first.  Adopting this selling method may reduce reportable capital gains and generate capital losses from taxable investments that offset taxable gains as long as wash sales are avoided. 

 

Once the pertinent trading data is in GainsKeeper, you can generate IRS Schedule D for tax years 1999 forward.  GainsKeeper also allows you to generate capital gain/loss reports and for mark-to-market filing Income/Loss Form 4797.
 
In addition to GainsKeeper's portfolio tracking tools, GainsKeeper offers tax-smart trading strategies to maximize your investment returns.  These strategies include the ability to evaluate the impact of a buy or sell before placing the trade with your broker, avoid wash sales, and apply the double down strategy to losing positions.

 

 

 

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