TaxGopher delivers a clear picture of the tax ramifications for all of your trading activities. Using trade data from your general ledger system, TaxGopher automatically identifies critical events, including Wash Sales, Straddles, Constructive Sales and REIT Reporting, then creates the adjustments necessary to produce an accurate K-1. TaxGopher sits between your portfolio management system and your partnership accounting system to guarantee that the K-1s produced by your partnership accounting system are correct.

No Surprises. TaxGopher reports provide you with the key data necessary to maintain a current tax profile. For example, one report helps you proactively identify wash/constructive sales, including the total amount that will be disallowed by the IRS. Another TaxGopher report details disallowed losses by lot and lists the necessary cost adjustments to carry forward the loss into future periods. Those cost adjustments can be auto-fed into your general ledger system so that once those lots are eventually liquidated, the cost basis is correct.

Compliance Made Easy. Other TaxGopher features allow you to group specific securities and override specific transactions when necessary. End Result: Compliance with IRS rulings and producing accurate K-1s becomes routine.
   
Smooth Integration. TaxGopher easily integrates with Geneva®, Advent's global investment management and accounting solution or VPM, SunGard's hedge fund portfolio management system. TaxGopher “talks” to Geneva and VPM through G2 Data Warehouse, an advanced data storage system. TaxGopher instantly accesses all the critical data necessary to run tax analyses on your investments so you know your tax liabilities.

Expert Support – When You Need It. Phone support for TaxGopher is available from 7 AM until 8 PM on all business days.  The TaxGopher support line is staffed by G2 engineers who can respond comprehensively to any concern.  Call 646 450 1038 for TaxGopher support. 

Product Features

• Wash Sales
  TaxGopher automatically identifies wash sales and allows you to construct families of specific “substantially identical” securities. Cost basis adjustments can be automatically fed back to your general ledger system.
  
  
• Substantially Identical Securities
  TaxGopher readily addresses ‘substantially identical’ securities, one of the biggest hurdles involved in computing wash sales. It lets you readily group ‘substantially identical’ securities. This grouping feature works for any type of security, including options, stocks, rights, warrants, convertible bonds, ADR’s, and preferred shares and makes it easier to produce accurate K-1s.
  


• Straddles
  When both sides of the wash sale are not equities, rule 2 of the wash sale tax code cuts in and disallows a portion of the loss based upon the unrealized gain of the offsetting transaction. TaxGopher  identifies this special case of wash sale and applies the correct tax lot offset to the straddle trade.
  
  TaxGopher gives you the option to reverse the apparent direction of certain transactions in order to allow for reverse risk scenarios, such as long puts and short calls when determining matching transactions.


• Constructive Sales
  Sometimes an investor inadvertently executes a constructive sale. TaxGopher identifies constructive sales and reports taxable gains in a concise, effective format.


• REIT Reporting
  TaxGopher computes and reports on tax adjustments related to Real Estate Investment Trusts (REIT). A sizable portion of the dividends paid by REITs are non-taxable or considered capital gains. These nuances can cause a substantial difference in current tax liability and/or tax deferral. TaxGopher lets you, on a case by case basis, breakdown REIT income into ordinary income, capital gains and return of capital. This breakdown can be adjusted over a period of time so that each dividend can either inherit the breakdown from the prior dividend period or override the previous settings with new ones. A quick import facility lets you grab allocation data from an external data source, such as Excel. This data is then applied to the actual payments captured from your general ledger system so you can generate the correct tax adjustments for your portfolio(s) during any given period.


• Out-of-the Box Reports
  Reports include Disallowed Losses, Cost Adjustment, REIT, Constructive Sales, and Wash Sales by Issuer. More detailed descriptions are available in this fact sheet.