Generating tax reports

Tax reports help you prepare for tax time by calculating your capital gains, losses, and dividend income. This guide covers how to generate and use these reports.

Requirements

To generate accurate tax reports, you need:

• Transaction-based portfolio — Cost basis portfolios don't have transaction dates
• Complete transaction history — All buys and sells recorded
• Accurate dates — Transaction dates determine holding periods

Note: Tax reports are for informational purposes. Always consult a tax professional for advice.

Generating a tax report

1. Open any transaction-based portfolio
2. Click the Actions menu (or the three-dot icon on mobile)
3. Select Tax report from the Reports section
4. Choose the financial year
5. Select your tax region (US or Australia)

The report may take a moment to process if you have many transactions.

Understanding the report

Tax authority codes

Each line in the report displays a small code badge showing the relevant tax form or label for your selected region. These help you map values directly to your tax return:

• Australia (ATO) — Item 18 labels for capital gains (18H for total gains, 18A for net capital gain), Item 11 labels for dividends (11T franked, 11S unfranked, 11U franking credits), and Item 20 for foreign income (20E, 20O)
• Australia (AMIT/trusts) — When AMMA statement data is entered, dividend codes switch to Item 13 labels (13C franked distributions, 13U trust income, 13Q franking credits)
• United States (IRS) — Schedule D for capital gains, Form 8949 Part I/II for short and long-term transactions, Schedule B for dividends, Form 1116 for foreign tax credits
• United Kingdom (HMRC) — SA108 for capital gains, SA100 Box 4 for dividends, SA106 for foreign income
• Canada (CRA) — Schedule 3 for capital gains, Line 12000 for dividends, T2209 for foreign tax credits
• New Zealand (IRD) — IR3 Q14 for dividends

Hover over any code badge to see the full form name and description.

Capital gains summary

The top section shows your overall position:

Metric	Description
Total gains	Profits from sales
Total losses	Losses from sales
Net capital gain	Gains minus losses
CGT discount (if applicable)	50% discount for eligible gains
Taxable gain	Final amount subject to tax

Transaction details

Each sale is listed with:

• Date sold — When you sold
• Stock — What you sold
• Quantity — How many shares
• Proceeds — What you received
• Cost basis — What you paid (FIFO)
• Gain/Loss — The difference
• Holding period — Short or long term
• Discountable — Whether CGT discount applies

Dividend income

A separate section shows:

• Total dividend income received
• Franking credits (Australia)
• Foreign income and withholding tax

Financial years

Australia

The Australian financial year runs July 1 to June 30:

• 2023-24: July 1, 2023 to June 30, 2024
• 2024-25: July 1, 2024 to June 30, 2025

United States

The US tax year is the calendar year:

• 2023: January 1 to December 31, 2023
• 2024: January 1 to December 31, 2024

Select the correct region to ensure the right dates are used.

CGT discount (Australia)

In Australia, individuals may qualify for a 50% CGT discount on gains from assets held over 12 months.

How it's calculated

1. Calculate the capital gain
2. If held > 12 months, apply 50% discount
3. The discounted amount is your taxable gain

Example

You sell shares for a $10,000 gain after holding for 18 months:

• Original gain: $10,000
• CGT discount (50%): $5,000
• Taxable gain: $5,000

TrackMyShares automatically identifies eligible gains and applies the discount in reports.

Who qualifies

The 50% discount applies to:

• Individuals
• Trusts (with distribution rules)

It does not apply to:

• Companies
• Super funds (they get 33.33% discount)

Short-term vs long-term (US)

In the US, holding period affects tax rates:

Holding period	Tax treatment
Under 1 year	Short-term (ordinary income rates)
Over 1 year	Long-term (preferential rates)

TrackMyShares reports separate short-term and long-term gains.

Offsetting losses

Capital losses can offset capital gains:

1. Apply losses against gains of the same type first
2. Then apply remaining losses against other gains
3. Unused losses may carry forward to future years

The report shows your net position after offsets.

Exporting reports

PDF export

1. Click Export PDF
2. A formatted report downloads
3. Share with your accountant or keep for records

CSV export

1. Click Export CSV
2. Download detailed transaction data
3. Import into tax software or spreadsheets

Tips for tax time

Before generating

• Ensure all transactions are recorded
• Check dates are accurate
• Verify cost basis is correct

After generating

• Review for any errors
• Note any special situations (wash sales, etc.)
• Consult a tax professional if unsure

Record keeping

Keep your reports for:

• At least 5 years (Australia)
• At least 3 years (US)
• Along with broker statements for verification