Second Portfolio possible at Interactive Brokers?

I want to have a trading portfolio and a long-term portfolio. Is this possible Interactive Broker without opening a second account? How does it work? Transfering money, tax information, etc?

You need to open a second account/sub-account. I did the same to invest separately for my child (under my name, just to keep accounts seperate). I had to wait approx. 2days until I was able to invest money.