Coastal Trade K-1's

Discussion in 'Prop Firms' started by Rocco11, Jul 12, 2012.

  1. Rocco11


    Are there any traders on here that traded at Coastal Trade Securities in 2011? They have not provided K-1's to their prop traders for 2011 tax year and they keep delaying the release. Just wondering if anyone has received them. As you can guess, everyone is quite worried what is going on and we are not getting answers. Any info or input would be appreciated
  2. Rocco11


    I guess I should just ask for advice from anyone that has ever dealt with this problem. This is new for me so if anyone had past experiences dealing with/handling issues with K-1's, it would be appreciated
  3. bears21


    I trade with them and I was told they would be going out Friday. Very annoying as this is holding me up for filing my taxes. My extension is up in October, technically they have to September to send them out cause it's a k1 if it was a 1099 it would have to gone out by January 31st.
  4. They are not required to send out the finalized K-1s until september by irs rules. But in my experience the better firms will have it to you by tax time or at least an unofficial K-1. It is totally normal and standard for them to wait until September. Pay what you think you owe and just file an extension. Im waiting on mine also. To get the K-1's out in time takes a substantial amount of time and money that you would end up paying for. When I traded with Assent LLC my K-1 came Sept 1st.
  5. Rocco11


    Thanks very much for the feedback. Last year we received them on time so the delay definitely had me concerned. I appreciate the info as you have helped alleviate a lot of concern. Thanks again
  6. Did Coastal Trade Securities return all the money from your account? You can reply here and/or private. Thank you