Help! An big error was made on my gain/loss but the brokerage does not want to fix it! Attached imag

Discussion in 'Taxes and Accounting' started by Steven W, Feb 24, 2017.

  1. Steven W

    Steven W

    I did not make 113k last year. My account balance was less than 113k at end of the year so it is obvious a mistake was made. I made around 80k. I called my brokerage several times but they do not want to fix it. I do not want to pay taxes on 113k which I did not make. What can I do?
     
    lawrence-lugar likes this.
  2. Steven W

    Steven W

    I also want to add all my positions were sold and closed a month before end of the year. All losses have been realized before the 1099 was sent out
     
  3. Robert Morse

    Robert Morse Sponsor

    Is this a futures or equity account 1099?
    Did you ACAT positions in or out during the year?
     
  4. Steven W

    Steven W

    This is an equity account. No futures or options. I think it was FIFO
     
  5. Who is your broker? Just so I know not to ever use them.
     
  6. Steven W

    Steven W

    It is a free broker hence the bad support. Does this look like a legitimate error though? They just told me to talk to a tax advisor but my 1099 is around 7k pages since i traded about 40 times a day
     
    singleleg likes this.
  7. Robert Morse

    Robert Morse Sponsor

    I suggest you contact a firm like Gainskeeper. They will upload all your activity and produce a report for your taxes. You then write a letter explaining why they are different from the 1099.
    http://www.gainskeeper.com/

    Good luck...Bob
     
    VPhantom and truetype like this.
  8. Steven W

    Steven W

    They will still look into it? My 1099 is 7k pages and i have over 30k transactions
     
  9. I have no idea, "free broker" sounds shitty to me, just the phrase it self.

    I think the Gov will work with you if you can get the paper work straight.

    Good luck!
     
  10. Robert Morse

    Robert Morse Sponsor

    That is what they do.

    upload_2017-2-24_20-55-48.png

    upload_2017-2-24_20-54-57.png
     
    #10     Feb 24, 2017
    truetype likes this.