Thus, I don't see how trading on FolioFn in an LC IRA account could cause any tax consequences?
I think you're right about everything except the wording of the quote above.
My version of the quote would be:
Thus, I don't see how trading on FolioFn in an LC IRA account will result in any reported tax related transactions?
Since money and securities were transferred between my LC IRA account and my FolioFn non-IRA account it seems to me taxable events probably occurred.
I'd like to be very wrong about that. The vast majority (great, I finally worked that one in!) of the discussions on this thread have centered on this point.
However, if we don't receive any forms who's to say for sure there were any tax consequences. Not little old me. All I can do with any certainty is stop trading Folio from my IRA account and that I've done months ago (like the day this thread was started).
I think we agree that it seems likely neither SDIRA, LC nor FolioFn will report anything about these transactions to the IRS nor generate any taxpayer forms.
Still waiting and watching ...
Has anyone (everyone) with regular taxable accounts received their tax forms from LC?