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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit
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To: CountofMoneyCristo who wrote (2886)8/12/2003 2:02:01 PM
From: Dave O.  Read Replies (1) of 3143
 
< filing 1099 forms with the Internal Revenue Service (“IRS”) and the Virginia Department of Taxation (“Virginia”) claiming my income for the period 1998-1999 to be some 165 million dollars >

So which 1099's were filed relative to the above $165 million? 1099-DIV, 1099-INT, 1099-MISC? Those represent "income" (i.e. Dividends & Distributions, Interest and Miscellaneous Income respectively).

Just don't answer 1099-B (Proceeds from Broker & Barter Exchange Transactions) as that is merely the proceeds from any transactions made, and by itself, it is not income. If you had $165 million in sales it is up to you or your accountant to determine the respective cost basis of any trades.
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