Annual Tax Summary Report

The Annual Tax Summary provides a complete overview of your trading business finances for a fiscal year. It's designed to give you (and your accountant) the key numbers needed for tax preparation.

What's Included

The Annual Tax Summary contains:

The Annual Tax Summary contains:

Income Section

  • Total Funded Account Payouts — All approved payouts from prop firms

  • Other Income — General income from the Transactions module (e.g. coaching, affiliate)

  • Total Income — Sum of all income sources

Expense Section

  • Total Challenge Costs — All prop firm evaluation purchases (gross)

  • Challenge Refunds — Shown as negative rows that reduce your total challenge cost

  • Tools & Software — Software subscriptions and trading tools

  • Education & Coaching — Courses, mentorship, books

  • Other Business Expenses — Everything else categorized as expense

  • Total Expenses — Sum of all expense categories (net of refunds)

Summary Section

  • Total Income — From above

  • Total Expenses — From above (net of refunds)

  • Net Business Result — Income minus Expenses

How to Generate

  1. Navigate to Reports

  2. Find the Annual Tax Summary card

  3. Pick your date range (This Year, Last Year, Last Quarter, or Custom)

  4. Click PDF or CSV to export

Choosing Your Date Range

The Reports page uses a date range picker — there's no fiscal year setting to configure in advance. Pick the period you need at export time:

  • This Year — current year to date

  • Last Year — full previous calendar year

  • Last Quarter — the previous 3-month period

  • Custom range — any start and end dates you choose

If your tax year doesn't follow the calendar year, just use Custom and pick your fiscal start and end dates. The report will include all Paid transactions and Approved payouts within that range.

Understanding the Numbers

Payouts

These are Approved payouts from your funded accounts. This is your primary revenue from prop trading.

Challenge Costs and Refunds

What you spent purchasing prop firm evaluations is recorded as a challenge cost. If you received a refund (e.g. after passing), it appears in the same Expense section as a negative row that reduces your total challenge cost.

So the math is: gross challenge cost − refunds = net challenge cost. This is the number that flows into your Total Expenses.

Net Business Result

The bottom line: did your trading business make money for this period?

  • Positive number: business was profitable

  • Negative number: business operated at a loss

  • Zero: broke even

How Refunds Are Treated

Challenge refunds are cost recoveries, not income. They appear in the Expense section as negative rows reducing your total challenge cost — never in the Income section.

Why this matters: a refund isn't money you earned, it's money you didn't end up spending. Treating it as income would inflate your revenue and inflate your costs at the same time, throwing off both numbers and giving you a misleading view of what your business actually did.

If your tax professional has a specific reason to treat refunds differently, you have all the raw data in the CSV export to do that.

Private Account Trading

Private account trading P&L, deposits, and withdrawals are not included in this report. Those are personal trading activities, not business activities, so they never appear in any report or tax export. If you need that data for personal records, view it directly in the Private Accounts module.

Multi-Currency Reports

If you have activity in multiple currencies, the report groups by currency:

Example
USD Section: Payouts: $15,000 Expenses: $8,000 Net: $7,000 EUR Section: Payouts: €5,000 Expenses: €2,000 Net: €3,000

Currencies are not converted or combined. This preserves accuracy.

CSV Format

The CSV export provides:

  • Raw data in clean single-table format — one row per transaction, one disclaimer footer line

  • Report metadata (business name, period, report type) in the filename, not inside the file

  • Dates in YYYY-MM-DD format

  • Imports cleanly into Excel, Google Sheets, or accounting software

  • Suitable for further calculations and filtering

Before Generating

Ensure your data is complete:

  1. All payouts approved — Check Funded Accounts for any pending payouts

  2. All expenses marked Paid — Unpaid expenses won't appear

  3. Correct dates — Transactions should have accurate dates

  4. Proper categorization — Categories affect how expenses are grouped

Common Questions

What if I'm missing data? Add the missing transactions before generating. Reports reflect what's in the system.

Can I regenerate a report? Yes, generate as many times as needed. If you add data later, regenerate for updated numbers.

Should I use this for actual tax filing? Use it as supporting documentation. Your tax professional should verify and prepare actual filings.

What about private account trading? Private account P&L is not included in this report. Private accounts are personal trading activity — discuss with your accountant how to handle them separately.

Why aren't refunds showing under Income? Refunds reduce your challenge costs, so they appear in the Expense section as negative rows. This is more accurate than counting them as income.

My tax year doesn't follow the calendar year — what do I do? Use the Custom date range option and pick your fiscal start and end dates.

Next: Income Report →