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Author: TheTortoise One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Broker Error on 1099-B? Date: 4/16/2011 9:50 PM
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In the past I’ve owned the SPDR Gold Trust (GLD) in my taxable account. After several years of dealing with the then new “Cost Basis Allocation Factor,” I sold all of my GLD and vowed never to own collectibles in a taxable account again. I sold the last of it on 12/30/2009, and looked forward to a peaceful tax season for 2010.

I’ve just discovered that my broker listed GLD on my 2010 1099-B, specifically the 12 monthly amounts for the “Cost Basis Allocation Factor” totaling $21.43 ... which is then included in the total 1099-B gross proceeds. Since I haven’t owned GLD since 2009, this seems like an error ... or am I missing something?

I’ve emailed the broker but don’t expect a response before Monday’s deadline.

I’m wondering whether the $21.43 discrepancy between my return and the 1099-B is enough to cause any problems ... and whether I should file an extension and try to get the broker to correct the 1099-B before I file?

Thanks for any thoughts.
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