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Financial Planning / Tax Strategies


Subject:  Re: 1099 Tactical Question Date:  1/26/2013  6:34 AM
Author:  Patzer Number:  117541 of 127549

Do at least one entry for each sale shown on the 1099-B.

I had a sale in 2012 that was a single transaction, nicely cleared in one lot. But my broker reported it as two separate transactions on the 1099-B, apparently because there were different acquisition dates. The acquisition dates were after the start of the new law, so the basis (which the broker got right) is reported to the IRS.

My understanding of Phil's advice quoted above is that I should report this as two line items on Form 8949, matching the two lines the broker reported, because this is less likely to confuse the IRS computers and cause them to ask questions.

Got it. I can do that, and it makes no difference to the totals. I might be annoyed if I were an active trader, but no big deal for the quantity of trades I had in 2012.

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