Question on Taxes for USA

[mackayjames]

Hi,

I am in the process of learning the NT8 Platform.

When I place trades using my Live account with Continnuum. For year end tax purposes will there be a 1099-B (or similar) form for me to download to show the Profit and Losses for the year to my accountant? Is this accessed through my NinjaTrader.com website through our login account?

Also, do you know if the report will show other fees such as Data Fees on the report?

In addition under the Operations > Database from within NT8 you can Reset the DB for Historical Orders and Historical Executions. Just wanting to verify that resetting the DB will not affect the official year end Tax Statements? How often should one Reset the DB?

Thank you in advance for taking the time to answer.

[NinjaTrader_Angelica]

Hello mackayjames,

Thank you for your post and welcome to NinjaTrader Forums!

For questions related to the brokerage account such as the 1099, please reach out to [email protected] and include a link to this forum post.

As far as your question regarding the database, correct, it will not affect the official year end statement.

We do not have a set time frame of when the DB should be reset. We recommend that you reset your DB when any issue happens in NT. We recommend resetting your db when it is very large. So large it is slowing down your computer.

Let us know if there's any questions.

[mackayjames]

Thank you Angelica for your feedback. Much apprerciated.
I have sent in a email to support.

[diegogoujon2]

NinjaTrader should send you a 1099-B or something like that showing all your trades, profits, and losses for the year. You can usually grab it right from your account on their site. They also break down the fees, like data fees, which is super handy for getting the full picture of your trading expenses.

About resetting the NT8 database, it's got nothing to do with your tax docs, so you're good there. I reset mine occasionally to keep things running smoothly, but it's more a personal preference thing.

Now, on a slightly different note, as I'm trading out of Texas, figuring out the tax implications was a bit of a puzzle at first. But then I started using a Texas tax calculator to get a handle on how my trading income impacts my state taxes. It was surprisingly helpful in making sense of my overall tax situation, blending in seamlessly with organizing my trading taxes.