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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (27825)3/5/2005 3:03:09 PM
From: TradeliteRead Replies (1) of 306849
 
I could do stock-related taxes with my own documentation, too, except for the fact that the fine print on the broker's 1099 always says NOT to rely on any previous monthly or quarterly statements or any personal records and warns me to RELY (ha!) on what's in the 1099, because that's what the IRS will see.

But then revisions keep arriving, as various securities I own keep recasting ordinary dividends into long-term capital gains distributions, return of capital, partially tax-exempt dividends, yada yada.

It's nutty and definitely doesn't conform to the IRS rule about having to provide a "real" 1099 long before tax time. Almost makes me want to sell some of the stuff I'm holding.
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