Many customers compare the figures in the performance report with the IB account statement (also known as the „statement" or „activity report") and find that the values sometimes differ significantly. This is expected and can be explained by two points in particular:
- Different Calculation logic (Trading currency vs. euro view)
- Different Treatment of certain products, in particular foreign currencies and options.
The account statement is the official document of Interactive Brokers and is legally decisive for the presentation of account movements. The performance report is an additional, informative evaluation that is roughly based on German or Austrian tax law and presents your results from a euro perspective. economically correct represents.
Perspective and currency
IB account statement:
- Valuates gains/losses in the trading currency of the respective security (e.g. USD).
- Displays these only indicatively in the base currency EUR, valued at the latest exchange rate.
Performance report:
- Always measures gains/losses in EUR.
- Purchases and sales are converted at the FX closing price on the trading day.
- Exchange rate effects are either recognized directly in the securities category (e.g. shares) or reported as separate foreign currency gains/losses.
Consequence: A trade can show a clear profit in the account statement, while the performance report shows little or no profit from the perspective of a EUR investor - or vice versa.
Example: Shares in foreign currency
Scenario:
- You deposit EUR 1,000 and exchange it for USD 1,000 at a rate of 1:1.
- You buy 10 US shares for USD 100 each and sell them later for USD 120 each.
- You then exchange the 1,200 USD back into 1,000 EUR at a new exchange rate of 1.20:1.
Economic reality: At the end you have EUR 1,000 again - you have made neither a profit nor a loss.
Performance report:
- Valuates transactions consistently in EUR and takes into account the exchange rates on the day of purchase and sale.
- Shares were purchased at € 100 (USD 100 / 1.0 exchange rate) per share.
- Shares were also sold at € 100 (USD 120 / 1.20 exchange rate) per share.
- Result: EUR 0 Profit/loss in the share category.
IB account statement:
- Calculates a profit of USD 20 per share, i.e. USD 200 in total.
- The profit is reported indicatively in EUR, converted at the latest exchange rate.
- You will see a designated Profit of EUR 167 (200 USD / 1.20 exchange rate).
- The account statement therefore shows a positive profit, but this does not reflect the fact that you have not won anything in EUR.
Conclusion: The performance report reflects the economic situation of a EUR investor more accurately. It shows what you could actually pay out in EUR in the end.
Options & option writer transactions
There is another important difference between options and covered options:
IB account statement:
- Typically transfers the option P&L to the equity position when options are exercised/assigned, regardless of whether they are long or short options.
Performance report (DE logic):
- Long options: If the option is exercised voluntarily, the value of the option is included in the cost price of the share. The P&L is only realized when the share is sold at a later date.
- Short options (covered options): In Germany, the premium income is already considered realized when the option is opened. In the case of assignment, this premium profit is retained; the share is booked at the strike price. There is a separate category for this „Premium".
Performance report (AT logic):
- In the Austrian version, options are uniformly listed under „OPT".
- The treatment corresponds more closely to the presentation in the account statement; the specific German „premium logic" no longer applies.
Consequence: It is normal for the presentation of options and options writer transactions to differ significantly between the account statement and the performance report, especially for German clients.
Further details can be found on the subpage „Options & option writer transactions".
Further differences at a glance
Aggregation & depth of detail
- IB account statement: Shows many individual transactions and subsections (e.g. realized/unrealized performance, transactions, cash movements).
- Performance report: Summarizes the data per category (e.g. shares, ETFs, futures, dividends). The aim is to provide a compact overview of a calendar year.
Realized vs. not realized
- IB account statement: Often also contains information on unrealized gains/losses.
- Performance report: Focuses on realized results. Open positions are not recognized as profit/loss.
Period
- IB account statement: Period freely definable, evaluations also possible during the year.
- Performance report: Always refers to exactly one calendar year.
Which document is suitable for which purpose?
IB account statement / statement:
- Official document from Interactive Brokers
- Detailed display of all account transactions in the original system logic
- Suitable for: formal documentation, tracking individual transactions, situations with US systems
Performance report:
- Informative, economic evaluation in EUR
- Suitable for: quick overview of one year, better understanding of trading activity from a EUR perspective, preparation of documents for a tax advisor
Important: The performance report is not a substitute for the bank statement and is not an official tax document. You or your tax advisor decide which documents you actually use for your tax return.
Traceability of the figures
If you would like to recalculate individual amounts from the performance report, please note:
- Use the transaction section of the IB account statement, which lists the original transaction rates in the respective trading currency.
- In addition, you need exchange rate data (e.g. historical daily closing rates), as the performance report uses the FX closing rate of the trading day.
- On the basis of this information, you can always track the euro values manually.
If you use the performance report as part of your tax documentation and a tax authority has queries about the calculation, CapTrader can - as far as possible - explain how the figures were arrived at, but without assuming responsibility for the tax assessment.