This affects your standard deduction and tax brackets.
👤
Single
👫
Married Filing Jointly
Usually the best option for married couples
👫
Married Filing Separately
🏠
Head of Household
Single with a qualifying dependent
Question 2 of 9
How would you describe your income situation in 2025?
Select everything that applies to you.
📈
Trading only — no regular job
Full-time or part-time trader, no W-2 employer
✓
💼
I have a W-2 job in addition to trading
Employed by a company and also trade on the side
✓
🧾
I have other self-employment / freelance income
1099 work, consulting, side business
✓
🎯
Trading is my only income — I'm unemployed otherwise
✓
Question 3 of 9
What do you trade? Select all that apply.
This determines which tax rules apply to you and what forms you need.
📊
Stocks / ETFs
1099-B, wash sale rules apply
⚡
Options
Complex rules, assigned positions
🔢
Futures / NQ / ES
Section 1256 — 60/40 tax treatment
💱
Forex
Section 988 ordinary income rules
₿
Crypto
Every trade is a taxable event
🏢
Prop Firm
Apex, FTMO, TopStep, Tradeify
Question 4 of 9
Tell us about your prop firm activity.
Select all that apply. This is one of the most mishandled areas in trader taxes.
💡 Prop firm income is treated as self-employment income — not capital gains. Most CPAs get this wrong. We make sure it's filed correctly.
💰
I received prop firm payouts in 2025
Any withdrawals from Apex, FTMO, TopStep, Tradeify, etc.
✓
📋
I paid for evaluations or challenge fees
Deductible as a business expense — save every receipt
✓
🔄
I paid for resets
Also deductible — include with your eval fees
✓
📄
My prop firm did NOT send me a 1099
Common — many firms don't issue one. We can work with bank statements instead.
✓
📉
I lost money on prop firm evaluations overall
You may still owe taxes depending on how the income was structured
✓
Question 5 of 9
What was your overall trading result for 2025?
This helps us know which deductions and strategies are most important for you.
📈
Profitable — I made money overall
Focus: minimize tax owed, maximize deductions
➡️
Break even — roughly flat on the year
Focus: document everything, carry forward losses
📉
Unprofitable — I lost money trading
Focus: capture losses, deduct expenses, reduce other income
⚠️ Even if you lost money trading, you may still owe taxes — especially if you received prop firm payouts, which are taxed as self-employment income regardless of your net result.
Question 6 of 9
Did you pay for any of these trading expenses in 2025?
Select all that apply — these are deductible and most traders miss them.
🖥️
Trading platforms or charting software
TradingView, NinjaTrader, TradeStation, TC2000, Sierra Chart, Bookmap
What traders usually want to know before starting a File It return.
What is included in TraderTax File It?
File It is the starter trader tax preparation plan. It typically includes preparation and e-filing of your federal and state returns, Trader Tax Status analysis, wash sale review, and reporting of prop firm and brokerage 1099s by a licensed CPA in our partner network who specializes in active traders.
How do I file my trader taxes with TraderTax?
After signup and payment, you complete a short onboarding wizard, upload your trading and income documents to a secure portal, and a trader-specialist CPA prepares your return. You review and sign electronically, then we e-file federal and state.
When is the federal tax filing deadline for traders?
The federal individual filing deadline is April 15. Active traders can file Form 4868 to request an automatic six-month extension to October 15. An extension extends time to file, not time to pay — estimated tax owed is generally still due by April 15.
Pricing, plan comparisons, and add-ons are on the pricing page.