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

No need to worry. You are not responsible for broker's reports. Just prepare yourself schedule-D ( based on your own transaction journal ) and explain the discrepancies.

 

Not a troll. I need serious help. First year with a profit. Here is proof of the 7k pages. How do I factor in the unknown gains and loss. Thanks

 

Ooops... I had posted the wrong link. This is the correct link for the program that interfaces most brokers and uploads your trades, than does all the calculations - including wash, and puts in a format that you submit with your Sch D. It costs $29 and never expires - I have used it for years now.

http://txfexpress.com/software/ischeduled_portfolio_manager.html

 

This happens a lot to me. For whatever reason, some group of trades, often all of them associated with a single stock, end up in the "basis unknown" bucket of the 1099. For these, you figure out what your actual purchase price was, and adjusted basis if appropriate, and then follow the instructions on the top of the header and report them in IB or IIE on form 8949. For you, it sounds like that will be IB since they're probably short term.

This can happen for energy securities (where many "stocks" are actually publicly traded partnerships and you get a K1), for complicated situations like when a merger or other corporate action confuses the broker's software, or sometimes for no obvious reason at all.

The easiest approach is to see if you can download the data for Form 8949 from your broker. For Interactive Brokers for example, they have all the trade data for these transactions in that file, but for whatever reason they didn't report it to the IRS so you have to get their basis numbers from those trades and put it on the final 8949 yourself.

 

It can be very difficult / impossible to get good data from brokers and for them to change / investigate it. Please keep updating the forum if you have progress

 

bump

 

There is no need to bump a thread when the thread was number two in the forum list since its previous reply. People will see it. This is the weekend. Everything is closed. People are closed. Allow people to re-open tomorrow.

 

Thanks. Kinda panicking

 

This kinda sounds like something related to cost basis reporting changes.

Look at the section that says "cost basis" and you'll notice it says 0 which is clearly not accurate. Prepare to go through hell as you figure out the real CB for all the trades.

 

You need to find a good accountant. Period. End of thread.