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by jrshaw on February 18th, 2009
You will need to establish your cost basis for the original transaction. Don't put the "incorrect" info on the tax form. Call up your broker and have them fix it which they may or may not do. Keep copies of your conversations and letters with your broker. You may need that later for an audit (if any).
Using original documents, work out what really happened on a spreadsheet. Use that "correct" info for your tax filing and discussions with your CPA/Taxpreparer.
You likely are carrying forward the $3,000 maximum on capital loss. Continue to carry that forward to apply against future gains which hopefully will be coming in the next few years when the stock market turns around...
If all this sounds too complicated, talk to a good reliable and reputable tax person. They can walk you through the transaction and get the reporting correct for your tax return.
Does NetSpend cash checks?
by Answerbag Staff on July 16th, 2010
| 1 person likes this
Can i cash a travelers check at a bank?
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Do both persons need be present when cashing an IRS tax check?
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How to cash a checks?
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| 1 person likes this
If you received an 8 foot check made out to you, at your front door, do you keep it or cash it?
by genericdust on September 22nd, 2011
| 2 people like this
You're reading Sold stock in 03, huge loss, reported to IRS. Proceeds held in cash account with Etrade. Closed account in 08, Etrade sent check (<$1100). Etrade has sent a 1099-B, says this iss proceeds from stocks/bonds and to claim on SchedD. I don't understand! HELP!
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