Gross proceeds alone are not indicative of whether an overall gain or loss was realized from a securities transaction. Gross proceeds report only the sale or maturity of a capital asset, which is reportable to the IRS. The gain or loss for any given transaction is a function of the sales proceeds, the purchase price and allowable transaction costs. Please refer to IRS Publication 550 (on line at IRS.gov) for further guidance. Information relating to each of these items, on an individual transaction basis, is available from both the monthly and annual confirmation statements located via the Reports > Tax menu in Client Portal. We have formatted the monthly confirmation statements in MS Money and Quicken, or you can use an Excel Spreadsheet to help with your calculations. If you have trouble with downloading your statements, please contact the Technical Assistance Center at 1-877-442-2757, and press 4.

For certain securities purchased after 2010 we will report tax basis information on Form 1099-B.

Interactive Brokers cannot provide any assistance in determining transaction gains or losses due to the numerous and often taxpayer specific considerations involved. Please consult with your tax advisor for guidance in this area.