Tax Reports
Generate comprehensive tax reports for your prop trading income
PropFlow's Tax Report Generator helps you create organized reports for tax filing by combining your bank transaction data with manually-entered business expenses.
How It Works
The Tax Report Generator is a 5-step wizard:
- Select Tax Year: Choose the previous year (complete) or current year (partial data)
- Add Expenses: Enter additional business expenses not captured in your bank data
- Preview Data: Review all transactions and expenses that will be included
- View Summary: See combined totals for income, expenses, and net profit
- Export: Download your report as an Excel file
Adding Business Expenses
You can manually add business expenses that aren't captured through your bank connections:
| Category | Examples |
|---|---|
| Hardware & Equipment | Computers, monitors, trading desks |
| Software & Tools | TradingView, trading platforms, analysis tools |
| Education & Training | Courses, mentorship, trading education |
| Other Business Expenses | Internet, VPN, office supplies |
Expenses can be marked as recurring (monthly) for easier entry.
Generating Reports
- Click Generate Tax Report from the sidebar (opens in a new tab)
- Select your tax year
- Add any additional business expenses
- Review the data preview
- Click Download Excel Report on the final step
Export Format
Reports are exported as Excel (.xlsx) files containing:
- Summary sheet with totals
- Income breakdown by firm
- Transaction details
- Additional expense details
Most banks provide 24 months of transaction history. Some banks may only provide 3-6 months. Connect your accounts early in the year for complete tax coverage.
Certificates
Looking for shareable achievement certificates? Visit the Certificates page from the sidebar to download:
- Lifetime Payouts Certificate
- Most Profitable Firm Certificate
These are separate from tax reports and designed for sharing your trading achievements.
Tax Considerations
PropFlow provides data organization tools, not tax advice. Consult a tax professional for guidance on reporting prop trading income.
Common Questions
Is prop trading income taxable? Generally yes, but the specifics depend on your location and situation. Consult a tax professional.
What records should I keep?
- All payout records
- Challenge fee receipts
- Platform subscription costs
- PropFlow reports
How is prop trading income classified? This varies by jurisdiction. Some treat it as self-employment income, others as investment income.
Tips for Tax Season
- Export your annual report early in the year while data is fresh
- Add all business expenses before generating your report
- Reconcile the report with your bank statements
- Keep all supporting documentation
- Consider quarterly estimated payments if required in your jurisdiction