This is fine I guess for a simple 1040 filing, but I've never seen anything open source that can handle importing and calculating profit/loss for hundreds of day trades across multiple brokerages with wash sale logic. TurboTax for all its warts is still a godsend to me and far cheaper than an accountant.
If you are relying on Turbotax, you are making a big mistake. I think they have stopped improving it much and now just "milk the cow" mode. I can think of 10 thousand improvements but each year they are same old same old. So I went to a very competent CPA just to double check if TT was maxing out. It turned out that I was losing significantly in TT. For example, TT did not identified wrong cost basis that often comes from the brokers like Fidelity. CPA noticed them in a second. TT also failed to make sure I was saving on taxes paid to state by various channels. If you are giving IRS more than $10K in taxes, it is worth finding and hiring a CPA who often charges less than $500.
can handle importing and calculating profit/loss for hundreds of day trades across multiple brokerages with wash sale logic
Excel?
Seriously, that sounds like a pretty simple spreadsheet to me. (Although you probably don't want to actually do it in Excel, 365*"hundreds" is a lot of rows)
Comments
This is fine I guess for a simple 1040 filing, but I've never seen anything open source that can handle importing and calculating profit/loss for hundreds of day trades across multiple brokerages with wash sale logic. TurboTax for all its warts is still a godsend to me and far cheaper than an accountant.
If you are relying on Turbotax, you are making a big mistake. I think they have stopped improving it much and now just "milk the cow" mode. I can think of 10 thousand improvements but each year they are same old same old. So I went to a very competent CPA just to double check if TT was maxing out. It turned out that I was losing significantly in TT. For example, TT did not identified wrong cost basis that often comes from the brokers like Fidelity. CPA noticed them in a second. TT also failed to make sure I was saving on taxes paid to state by various channels. If you are giving IRS more than $10K in taxes, it is worth finding and hiring a CPA who often charges less than $500.
Excel?
Seriously, that sounds like a pretty simple spreadsheet to me. (Although you probably don't want to actually do it in Excel, 365*"hundreds" is a lot of rows)