Question
Can I record futures transactions?
Answer
Only Single Stock Futures transactions can be recorded. Index Futures and Futures on Options cannot be recorded in GainsKeeper.
GainsKeeper® provides automated or manual interface corporate action functionality for single deliverable options and single stock futures. GainsKeeper® treats all gain and loss resulting from corporate actions as non-taxable given the absence of specific federal income tax guidance regarding the tax consequences of corporate actions relating to options. Limitations in this functionality may adversely affect cost basis tracking and the application of the appropriate tax treatment. Neither GainsKeeper®, nor Wolters Kluwer Financial Services, provides tax advice. You should contact your own tax or legal advisor in order to determine the appropriate tax consequences and reporting of such treatment as it applies to your specific circumstances. GainsKeeper® assumes no responsibility or liabilities, including for any tax penalties or related interest charge resulting directly or indirectly from the consequences of such treatment of corporate actions and its processing.