Does Sharesight’s Tax reporting consolidate data across MORE THAN ONE BROKER?

Brokers & apps
1

Newbie has questions:
I trade with two Brokers. ( IG Markets & Interactive Brokers.) I am an Individual Investor and the main reason I took out an Expert Monthly Subscription was to evaluate StocksSight’s taxation reporting for my End of Year. Now, I must wait till the October for IG Markets to provide their Yearly Statement. I haven’t tried Interactive Brokers yet!!
Does StockSight’s Tax reporting consolidate data across MORE THAN ONE BROKER?

2

Hi @MGG & welcome to Sharesight! Have you reached out to our support team directly regarding this? If not, feel free to as we can work with you more closely regarding your particular scenario.

With IG markets, we don’t have a broker import set up. To import historical data you would need to download your trades into a CSV & then map the columns to the required fields for our CSV Importer.

For IB, we do have an integration to import your ongoing trades that you can set up via the steps here. This integration only imports 7 days worth of data, so to import your historical trades follow our video guide.

3

Hi Jack

Thanks for your reply.

No I am not receiving support for the point of this question to the Community. I am receiving support for other matters off the topic of this question to the community.

My question was on the topic as follows:

Does StockSight’s Tax reporting consolidate data across MORE THAN ONE BROKER?

Kind Regards

4

It is best to set up portfolios by tax entity not by broker. For example I have three brokers on my personal shares and two on my super fund. At tax time the Capital Gains report and the income report are the most useful. I don’t worry about the reports from the online brokers anymore. Sharesight saves me a huge amount of hassle at tax time.

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5

Thanks for your reply.

As I am a Newbie evaluating , I have not gone to generate any Tax reports at this stage.

Your Answer/post is interesting to me . The question I need to ask you is; Did your accountant accept the report generated from Sharelight in this fasion? My accountant is pretty picky (HaHa) :rofl: :rofl:

6

Yes. I have used them with the auditor of my SMSF and he is pretty strict. If you receive dividends from overseas shares you have to check the exchange rates. I compare the SS figure to my bank statements and sometime need adjust by a few cents. For the Aussie holdings always spot on.

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