Schedule FA for Interactive Brokers
Interactive Brokers is popular with Indians who invest in US stocks directly. Unlike app-based platforms, it does not produce an Indian Schedule FA report, so you need to build one.
What to download
- Activity statement for the calendar year (Performance & Reports, then Statements): trades, dividends, withholding tax, deposits and withdrawals, and open positions at year end.
- Flex Query (optional): a custom CSV of trades and cash transactions, which is easier to work with than the PDF statement.
- Form 1042-S or the tax documents section: dividends and US tax withheld.
How it maps to Schedule FA
- Table A2: your IBKR account. Its peak and closing balance include cash as well as shares, so keep deposits and withdrawals in your records.
- Table A3: one row per purchase lot of each stock or ETF held at any time in the calendar year.
- Capital gains: each sale at the Rule 115 rate; long-term only after 24 months for US-listed shares.
- Form 67: for US tax withheld on dividends.
Every ETF you hold is a separate entity in Table A3, with its own name and address from the fund's documents.
Using FA Ready with IBKR
Use FA Ready's CSV template: DEPOSIT rows for money sent, BUY and SELL rows from your trades, and DIVIDEND and TAX rows from cash transactions. With deposits included, Table A2 values include your cash balance. A direct IBKR import is planned.