urgent: IB 1099 for 2011 doesn't match Total P/L for 2011 Statement Period

Discussion in 'Professional Trading' started by stockcik, Mar 23, 2012.

  1. I'll certainly defer to Robert Green, but my concern would be if there is a mismatch, the IRS gets the 1099B numbers from IB and their computer expects them to match the 8949.
     
    #11     Mar 24, 2012
  2. gkishot

    gkishot

    Agree. Let them reconcile 1099-b and 8949 if they want to. :)
     
    #12     Mar 24, 2012
  3. Of course that's a concern, BUT, we can't control what a broker will or won't do as far as corrections.

    Changing your trade history to match a brokers 1099-B when you know your trade history is correct is wrong, in my opinion.

    The goal isn't to match your trades to their 1099-B's. The goal is to accurately submit your trades on your tax form. The IRS will get the trades. They'll see you did it correct.

    My view is to file your trades accurately on time & be done with it.

    How can that view be wrong?

    You could file extensions now & the brokers STILL may not make the necessary corrections. I'd rather have my tax form in on time & correct.
     
    #13     Mar 24, 2012
  4. #14     Mar 26, 2012