I’ve seen some pretty wild 1099-B forms. I’m curious if others have any strange stories?
Personally, I miss TD Ameritrade and really wish Fidelity would include wash sales in the cap gain calculations. Anyone else had experiences with Bernstein & co… Spooky Halloween vibes?
Any 1099-B that makes you calculate income from US government and foreign sources by hand-- especially when they don’t include the necessary info.
Fifer said:
Any 1099-B that makes you calculate income from US government and foreign sources by hand-- especially when they don’t include the necessary info.
Merrill Lynch, I’m looking at you
Fifer said:
Any 1099-B that makes you calculate income from US government and foreign sources by hand-- especially when they don’t include the necessary info.
Feels like most of the ones I see lol
Fifer said:
Any 1099-B that makes you calculate income from US government and foreign sources by hand-- especially when they don’t include the necessary info.
I have a foreign tax credit.
Great, how much?
That’s interesting. Which country?
Like 30 of them.
I need a list of the countries and the tax amounts for each one.
Well, actually more than 30.
Alright.
So that’s too many to list, right?
What? No, I need you to list all of them.
All of them?
Yes, the IRS wants to know which countries you paid foreign taxes to.
I could maybe do a spreadsheet.
That sounds good, I love spreadsheets.
Does it have to be a spreadsheet?
It can be any format as long as you provide that info.
How do I know which countries?
How do you not know which foreign countries you paid taxes to?
Yes, how would I look that up?
You could start by checking where your money went.
Like my broker, would he know?
He probably has a clue.
Okay, you can call him.
I need you to make that call.
But they’ll charge me, they don’t just give that info for free.
Yeah, that’s a problem. Not sure if this is going to work out.
rbc sucks
Ari said:
rbc sucks
The worst. Every client using them is a heavy trader. I know exactly who they are and I sigh a little inside when I see them on my schedule
Ari said:
rbc sucks
The worst. Every client using them is a heavy trader. I know exactly who they are and I sigh a little inside when I see them on my schedule
One of my biggest clients has like 12 different RBC accounts. Guess who has to deal with that lol
Interactive Brokers (at least from what I’ve seen) doesn’t provide foreign tax info, which is super annoying.
I also dislike how some brokerages include wash sales in their “net gain/loss” column and some don’t.
@Devi
This always makes me double-check my inputs when it doesn’t match the brokerage statement. So frustrating
I really dislike Goldman Sachs’ 1099s. They are such a mess, and some years, I get 3 or more revisions.
CombiNAHASHON said:
I really dislike Goldman Sachs’ 1099s. They are such a mess, and some years, I get 3 or more revisions.
Totally agree. This year’s revision was especially frustrating. Sorry client, I can amend it, but it’ll cost more than the income difference.
@Raven
So… they shouldn’t amend then and just pay the interest? You said it was more than the income difference.
I can’t stand any of them that don’t provide state details on exempt interest/dividends or federal source income in ordinary dividends.
Without a doubt, RBC is the worst