Hello all,
When I filling out my federal tax forms do I need to separate 10-99B for each brokerage account... or do I list all sale transactions together in one lump?
Thanks, Confused Man
Hello all,
When I filling out my federal tax forms do I need to separate 10-99B for each brokerage account... or do I list all sale transactions together in one lump?
Thanks, Confused Man
"Confused Man" wrote
You need to find someone to prepare your returns for you if you don't know what you are doing.
Each SALE gets reported (one per line) on Schedule D. While you can add together the sales of the same stock (from the same broker/dealer) sold on multiple dates, as long as you maintain the long or short characteristics of the transactions (ie: don't combine long and short on the same line).
You list each transaction separately.
Thank you!
Confused Man
Would you believe I actually have a case now where the IRS is busting someone's nuts over this very topic? We filed transaction by transaction, like you should, but the IRS is now claiming we didn't include these sales because they can't find the lump sum total from the brokerage house who sold the different stocks. I actually had to write and tell them to go add the itemized transactions together to find their missing sale.... and it wasn't like it was lists of sales by different brokers... it was 5 sales and all by the same broker. Gotta love the IRS.
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