BlogSharesight Features & Tips

3 ways Sharesight helps investors at tax time

by Angela Thompson, Sharesight
NOTE: There are regional versions of this article for Australia, Canada, and New Zealand.

Sharesight is the award-winning investment portfolio tracker that investors around the world use to track over a million holdings. Beyond the performance insights it provides throughout the year, Sharesight is especially valuable when tax season rolls around.

If you prepare and file your own tax return, Sharesight provides everything you need to stay organised and save yourself hours of time spent number-crunching. And if you work with an accountant, Sharesight can save you potentially thousands of dollars in accounting fees by letting you share your tax reports with them, so they’re not starting from scratch and charging you for portfolio reconstruction.

How Sharesight’s tax features save you both time and money:

featured - 3 ways Sharesight helps investors at tax time

1 - Global tax settings

Sharesight is built with global investors in mind. You can sign-up for a FREE Sharesight account from over 100 countries, and track stocks on over 25 stock exchanges worldwide. You can also track ETFs, listed bonds, fixed interest holdings, cash, currencies (including popular cryptocurrencies) and unlisted assets.

  • By default, your first portfolio’s tax residency will default to the country you used to sign-up with, but you can create additional portfolios with other tax residencies if needed.
  • You can also adjust the tax year end date to reflect that country’s financial year.
  • Setting the tax residency country of a portfolio determines the portfolio’s base currency, ensuring that any currency fluctuations on foreign investments are automatically incorporated into your total performance return.

Portfolio Tax Settings - USA

Sharesight - Currency Gain

2 – Taxable Income Report

With all your dividends automatically captured and in one place, Sharesight makes tax time a breeze. The Taxable Income Report takes it one step further:

  • See all your dividends broken down over any time period, organised by local/foreign income.
  • Optionally display individual holding totals, as well as comments.
  • Export to Excel, PDF, or Google Sheets.

Sharesight Taxable Income Report - USA 2019Sharesight Taxable Income Report

For more info, see: Sharesight Help – Taxable Income Report

3 – Sold Securities Report

If you’re looking to understand how much money you made by selling shares (capital gains), then the Sold Securities Report provides exactly that:

  • See the total return on any shares that have been sold within the selected date range.
  • View the subtotals of each section, and a grand total at the bottom of the report.
  • Group your holdings according to default groupings (Market, Industry, Country, etc), or by your own Custom Groups.
  • Toggle the $/% symbols to see the amounts in dollars or percentages. The percentages are a handy way to see your relative gains/losses, and the dollar figures can be used to report any capital gains you might need to disclose in your tax return.
  • Export to Excel, PDF, or Google Sheets.

Sharesight Sold Securities Report - USA 2019Sharesight Sold Securities Report

For more info, see: Sharesight Help – Sold Securities Report

BONUS – Portfolio sharing

Another essential tax feature is the ability to share your portfolio. Rather than exporting and printing or emailing your Sharesight tax reports, you can securely share portfolio access directly with your accountant. With all your portfolio data in one place, they’ll have everything they need to prepare your tax documents. Available on all Sharesight plans, portfolio sharing ensures everyone’s on the same page and focusing on what really matters – not just at tax time but throughout the year.

Simply the best portfolio tracker for investors

Join thousands of investors around the world who use Sharesight to manage over $6.1B worth of investments. To get started for FREE, simply sign-up and import your holdings. Then watch as corporate actions such as dividends and stock splits are automatically incorporated. And there’s even a handy mobile app that lets you track your portfolio on the go!

Sharesight Hero - featured (1200x630)

FURTHER READING

Try Sharesight today
Track 10 holdings for free.
Sign up for Free