1099 question

Discussion in 'Taxes and Accounting' started by Mr.Anderson, Sep 15, 2023.

  1. the first 1099 I got from Tradestation (I only traded futures) made sense, i.e., Line 10 which was an unrealized loss for 2022 was subtracted from Line 8, making a profit on Line 11 for 2022. Screenshot 2023-09-14 at 20-53-24 2022 1099B for TS ORIGINAL.pdf.png Screenshot 2023-09-14 at 21-06-37 TS 1099 2022 substitute.pdf.png Screenshot 2023-09-14 at 21-06-37 TS 1099 2022 substitute.pdf.png Screenshot 2023-09-14 at 20-53-24 2022 1099B for TS ORIGINAL.pdf.png

    then I got a new 1099 that shows unrealized profit/loss from *2021* in parentheses,
    (a loss) which was *added* to Line 8 and then the unrealized profit/loss for 2022 on Line 10 in parentheses (a loss), which was subtracted, giving me more profit for 2022 than I
    actually had, meaning more taxes to pay. Does that seem odd?
     
  2. Robert Morse

    Robert Morse Sponsor

    All I know is that futures are Market to Market 1256 contracts and for tax purposes, realized and unrealized are the same. You pay income tax on both.

     
    murray t turtle likes this.
  3. Yes, I'm aware of that.
    my question was why they added a loss from a prior year to the current years gain?
     
  4. Overnight

    Overnight

    The only thing you can do is call them, and after asking them what's up with the math error, ask them why they are sending you a 1099 so late in the year?

    Also, check your 2021 1099. That may have some numbers on it to help you out when yer on the phone with them.
     
  5. good advice
    thank you