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Author: sdprince Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121316  
Subject: Contested Stock Purchase Date: 4/9/2000 3:08 PM
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Very long story short: I have a stock purchase from '99 that shows a huge loss on my end. I have contested it (my attorney is working with the SEC on a P&D situation), but it was included on my 1099 from the brokerage.

My questiontis, do I go ahead and figure this contested amount as part of my profit/loss, since it's on the 1099 and has been reported as such? At this point, it will only benefit me, because the amount involved will wipe out my gains. If I end up beating the brokerage and the whole thing is dropped, will I have to make a correction to my '99 taxes at some point?

I hope I've been clear in explaining this. Thanks in advance for the hlep!
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