Simply Track Pro 2.6.1

Publisher's description of Simply Track Pro

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Simply Track, Portfolio tracking, Schedule D, and Wash Sale software. Wash Sale adjustments, Schedule D Generation made easy with Simply Track. You can import all your trades from various brokerage accounts and generate Schedule-D with a click of the mouse. You can even export schedule D into .TXF format and then import your gains and losses report into any tax software program that accepts TXF files such as TurboTax and TaxCut. You can also track your stock or mutual fund positions in multiple portfolios. You may have accounts with various online brokers, using simply track you can bring them together for monitoring multiple portfolios and watch lists with up to 30 different parameters.

Version 2.6.1 supports 2006 Tax changes,includes direct downloads from selected financial institutions, supports Foliofn and Penson Financial imports, features bug fixes, exports Schedule-D report into Adobe PDF file format.

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User reviews of Simply Track Pro

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  Simply Track Pro

  Great program, great job!

  by: gwakeen on 23-Jan-2007 10:54:47 AM

  Pros: I have been looking for this type software for some time, Simply Track (ST)is priced favorably. The ST staff supports the program quickly and professionally. The program is versitile over many brokerages and also has a universal (generic) input mode. There is more to the wash sale adjustment than meets the eye. ST will combine many same day, same price, fills and then compute the wash sale adjustments. This reduces the number of Schedule D lines and makes importing to TaxCut possible (3000 line limit I am told). TurboTax has a 600 line input limit (again I am told). When you trade many times within the same day, a year end brokerage report will show (to the IRS) all transactions ramdomly without time tags for that day. It is nearly impossible to recombine these partial fills manually if you trade a lot. Some sales, appearing first, will end up looking like shorts, depending on the broker reporting order (and vice versa). Often with numerous transaction lines, extra wash sale adjustments are needed (which are also difficult to do manually). There are other problems that have been taken care of. ST takes care of all of this for the trader. I don't know how I got along without it in the past. I was audited for 2005 and was lucky they didn't get into the wash sale requirement, though they did mention it was necessary. After combining and matching up the trades a Schedule D can be printed or exported to either of the above tax prep packages. Either will then enable electronic filing. There is much much more but suffice it to say that you shouldn't judge ST by its price, it is a sophisticated package that is easier to use by far than trying to do this sort of year end tax prep manually.

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