Hi, I just received a letter from the IRS that I owe them around $24,000 additional taxes for my 2007 Federal Tax Return due to unreported income from Interactive Brokers. During 2007, I traded the following financial instruments with IB - options, forex, stocks, SSFs, and futures. IB sent me a 1099-B which had the following info: Box 2 "Stocks, bonds, etc." with Gross proceeds less commisions and option premiums checked. Amount entered was $92,000. In Box 8 Profit or (loss) realized in 2007 $ -8,240.40 In Box 11 Aggregate profit or (loss) $ -8,240.40 Yet, I lost over $10,000 trading that year in my IB account so I don't owe any additional taxes. To clarify, I did not make a profit at all in 2007, rather I lost money. I filed the short 1040 for that year and did not fill out a Schedule D since I did not have any profits. So, how do I fix this? Did IB make a mistake on my 1099? IB's own Schedule D worksheet appears to back up my losses. Any advice is appreciated.