TaxGopher®, the powerful tax analysis engine from G2 FinTech, delivers the cost basis reporting solution you need. TaxGopher provides a clear picture of the tax ramifications for all of your trading activities. It is designed to augment your existing portfolio accounting system and create the adjustments necessary to produce a compliant 1099-B — all without the need to reconcile tax lot retirement algorithms. Click here to see how TaxGopher compares with other tax analysis solutions for wash sales, constructive sales, straddles, section 988 income bifurcation and qualified dividends.

1099-B Compliance Made Easy. Using trade data from your portfolio management system, TaxGopher modules automatically identify wash sales, constructive sales, straddles, section 988 income bifurcation and qualified dividends. TaxGopher reports provide you with the key data necessary to maintain an up-to-date tax profile. For example, one report helps you proactively identify wash sales and constructive sales, including the total amount that will be disallowed by the IRS. Another TaxGopher report details disallowed losses by lot and lists the necessary cost adjustments to carry forward the loss into future periods. Those cost adjustments can be auto-fed into your general ledger system so that once those lots are eventually liquidated, realized gain or loss is correct.

Other TaxGopher features allow you to group specific securities to comply with the substantially identical rule and to override specific transactions when necessary. End Result: Compliance with IRS 1099-B reporting requirements becomes routine.

Options. TaxGopher clients can choose the solution that works best for them. TaxGopher can be installed inside your operation and live side-by-side with your existing portfolio accounting system and process your trade data for wash sales, constructive sales, straddles, section 988 income bifurcation and qualified dividends. Alternatively, clients can send G2 its trade data and G2 will process it for them.

Massively Scalable & Fast! Regardless of the size of your organization, TaxGopher delivers the solution you need. Whether you run TaxGopher on a handful of accounts or millions of accounts, each instance of the software processes 10,000 transactions per second and identify wash sales, constructive sales, straddles, section 988 income bifurcation and qualified dividends.

Smooth Integration. TaxGopher easily integrates with your firm’s current portfolio accounting system. It instantly accesses all the critical data necessary to run tax analyses on your investments for wash sales, constructive sales, straddles, section 988 income bifurcation and qualified dividends so you know your tax liabilities. TaxGopher “talks” to your portfolio accounting system, either through an easy-to-use command line interface OR with a direct link to your database. Click here to see how TaxGopher easily integrates with your current operation.

The G2 TaxGopher product license includes a data schema, data processing engine, and an intuitive graphical user interface for browsing all of the raw data used by TaxGopher.

Click here to see a detailed fact sheet for G2 TaxGopher.

Visit our Cost Basis Advisory Page, a practical resource for the tax and accounting community that addresses real-world cost basis calculations.

G2 FinTech and the G2 TaxGopher product offer clients the business, financial, accounting and tax management services they need to readily comply with IRS reporting requirements through the identification of taxable events or events that require tax adjustment treatment such as a wash sale.

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