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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: At_The_Ask who wrote (1368)4/4/2003 11:10:54 AM
From: m-top  Read Replies (1) of 1383
 
Really? So am I correct in assuming that the year end aggregate purchase and sales figures you calculate do not necessarily match those shown on your 1099? Thats the problem I have but there is a good explanation (I think). I had made several short sales on december 31st which show up on the 1099 as sales but in fact are still open positions. Thus the 1099 overstates the actual sales data relevant for 2002 tax calculations. I have similar issues with the 1099 gross purchase data as several long buys were also made on december 31st. Another issue which makes matters worse, is that I have noticed discrepancies with the trade dates shown on the 1099. They don't necessarily match either the trade date or settlement date shown on my year end brokerage statement! The good news is that the bottom line net change for my account per my trade history is consistent with that shown by my year end brokerage statement. I may let it go as is.
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