Taxes

I'm turning in my taxes today. Trading sure creates its share of headaches when it comes to taxes. I've only been trading for 5 years, but I've already got a threatening letter about owing lots of money to the IRS. That was a mistake that I made on my tax forms and I got it cleared up, but it was a hassle.

This year I owe a large sum of money because of my gains last year. It's a little hard writing that check when I've already lost half of those gains. I know that eventually I'll get it back, but paying taxes on money that no longer exists makes me a bit miffed.

I used Gainskeeper which is offered for free when you trade with Scottrade. I like the package and it saves me a ton of time. My federal return was 14 pages and would have taken a ridiculous amount of time if I hadn't been able to download the information into my tax software.