Run What-If Matching Scenarios

The Tax Optimizer lets you run real-time what-if matching scenarios. What-if matching scenarios allow you to change the lot-matching method on the fly for any symbol listed to immediately see the effect on your gains and losses. You open the Tax Lot Details panel to view the results of the change on your profit and loss.

You can make changes and save them until 8:30 PM ET on any given day. The amount of time remaining until 8:30 PM is displayed in the upper right corner of the screen.

To change the match method for any symbol

  1. Log into Client Portal, then select Reports > Tax Optimizer.
  2. Select the Trading Day. You can select the current trading day or the prior trading day. Note that if you are launching the Tax Optimizer on a Saturday or Sunday, you will only be able to select the prior trading day.
  1. Click Launch to run the Tax Optimizer.

The Tax Optimizer lists all or your positions of the selected security type, sorted alphabetically by symbol and showing the matching method, Short Term P/L and Long Term P/L for each symbol.

  1. For multi-account structures, select an account from the Account drop-down in the Information Bar.

  1. Select a security type by clicking the appropriate tab (Stocks, Options, Bonds, Warrants, SSFs or Funds). Note that Options include Structured products and Bonds include bills.

The list is updated to include only those positions of the selected security type.

  1. For any symbol listed, change the lot-matching method by clicking the Method drop-down menu then clicking the desired method. Select one of the following match methods:
  • First In, First Out (LIFO)
  • Last In, First Out (FIFO)
  • Maximize LT Gain
  • Mazimize LT Loss
  • Maximize ST Gain
  • Maximize ST Loss
  • Highest Cost
  • Specific Lot - Specific Lot lets you manually match a tax lot with any available closing trade.
  1. Click the Show button for the symbol to open the Tax Lot Details panel. (The Show button changes to a Hide button.)

The Tax Lot Details panel displays all open lots and closing trades for the selected symbol, as well as the profit and loss for each open lot that is closed under the current matching method.

  1. Click the Show button in the Tax Lot Details panel for a specific lot to display the Match Details window, which displays the open lot you selected and all possible sales that could be matched. Click Close to close the Match Details window.

  1. Continue to change the match method for the selected symbol in the Tax Lot Details panel by clicking the drop-down menu in the title bar of the Tax Lot Details panel.
  2. Click the Show button for any symbol listed in the main section of the Tax Optimizer to automatically update the data in the Tax Lot Details panel.
  3. Close the Tax Lot Details panel by clicking the Hide button for the selected symbol.
  4. Click Save to save your changes, or Refresh to update the data in the Tax Optimizer without saving your changes.

    Saving your changes applies the selected matching method(s) to the actual sales for tax purposes.