A.I.M. Users Bulletin Board

[SFSecurity]

Hi Gang, Well, I finally got an answer to the problems with the TDAmeritrade web page display of prices. The error on some positions was up to 37%!!!! Anyway what they finally said was:

When you upgrade to advanced features on TOS {Think or Swim}, the info on the Balances & Positions page{s} on the TDA Website is driven by the info on the TOS platform. The only way to update balance and positions is to update TOS. There is no way to update Balances & Positions by itself like clients who do not have advanced features enabled.

That being said, TOS is not always able to match what Gainskeeper has (Gain/Loss page). Here are the main differences:

1. TOS does not include Commissions in the cost basis, GK does.
2. TOS cannot do Lot Allocations at any time. It can only use FIFO (First In First Out) logic when taking off existing positions. Therefore if you choose to use something different the cost basis will not match what Gainskeeper has.
3. TOS cannot include the Option Premium for the cost basis of Exercises and Assignments. It can only show the Option Strike price as the basis.
4. TOS cannot adjust for Wash Sales the way GK does.
5. TOS combines Realized and Unrealized P&L (same as B&P), whereas GK segregates them.
6. TOS does not receive the individual lots when a position is transferred in or an account Opts In. It gets one lot at an average price. If you take off part of that position the basis of the remaining lot will normally not match what Gainskeeper has. This is also true when there is a Corporate Action. The new shares come back in as one lot at an average price – not the individual lots.
7. For Forward Stock Splits TOS does not have the ability to adjust the price/basis of the pre-split shares (like Gainskeeper does), so the new shares need to go in at 0.00 in order to make the average price/P&L correct.
8. TOS cannot make adjustments to cost basis for Return of Capital.

Also, TOS cannot show the original Trade Dates for positions transferred in/Opted in. It can only reflect the date that the position was entered into the account.

Gainskeeper accurately keeps the cost basis for each position, which is used for reporting to the IRS.

Given that Gainskeeper is the one used for tax purposes it doesn't make sense to use ToS for anything but looking at charts and such for planning, but never trading. Plus, I wasn't able to update the web page display so it stayed accurate via ToS.

So much for "...advanced features...." They made me make a couple of mistakes, thankfully only minor.