Our Tax Lots page in APM is a really useful tool, for examining your fund not just in overall positions, but also the individual lots/positions that make these positions up.
This is useful not only for US clients with lot-specific tax burdens, but also for non-US clients who want to examine their fund in more detail.
Tax Lots page
Our Tax Lots page is at the top of the screen.
It lets you see each position through all its individual trades, not just its overall price and quantity.
You can break this view down via Open and Realised positions:
- You can view Open and Realised positions separately, by either un-checking or checking the ‘Realised’ box respectively.
- You can also see both of these positions together, by selecting ‘Merge Open and Realised Positions View’ in Config, when viewing Open Positions.
You can also filter and group these positions in a range of ways, including:
- By Long-Term and Short-Term (held for more or less than 12 months).
- By how many days until Short-Term lots become Long-Term.
- And of course you can still use normal categories, such as P&L.
You can also work on your portfolio from this page, by right-clicking on each position. This allows you to: Amend Trade, Cancel Trade, Add Accrual, Add Cash Dividend and Buy/Sell Order.
Tax Lot Analysis
Our Tax Lots page is perfect for analysing your tax lots, and deciding which positions to realise for tax minimisation purposes.
Some decisions that our page can help with:
- Group by Short and Long-Term lots, and you may then decide to realise the Long-Term lots first.
- Order by length of time until lots become Long-Term, and then delay realising a position for the x days until it becomes Long-Term.
- Group by P&L, and then decide to realise the most loss-making lot in order to offset large gains made elsewhere.
Our page is a really concise way to make these realisation decisions a whole lot clearer and easier.
We also offer a ‘Wash Sale Warning Report’.
This lets you know about the Tradable Date, from which your lots will be out of the Wash Sale Window, and can be freely traded.
To access this, select the Reports tab when in the Tax Lots page.
Realising Tax Lots
By default, our setting in APM is First In First Out (FIFO). So, the oldest lots are sold first.
But you can change the default behaviour for the fund, at the fund’s conception. We also offer other options: LIFO, HICO, LOCO, DTFIFO, DTLOCO and AC, as well as a ‘Tax Efficiency Loss Harvester’ method.
For more information on these options, check out our article in our Documentation Portal on Tax Lot Analysis.