I filed my 2004 return in early April. Yesterday, I received an 1099-OID showing interest (block 2) of $2,000. The broker reports this is an additional form rather than a revision to the package sent in March. The form from the broker was dated 4/13 and the envelope was postmarked 4/15. I have never filed an amended return but I guess I will have to. Right? I filed electronically using TurboTax, so what is the procedure for the change. And will I have to pay a penalty?All amended returns must be filed on paper. Use Form 1040X and Schedule B and any other form/schedule that changes as a result of the new data.Also, do I have a legitimate complaint about the broker's late notice?No.<i. They tell me they got the info from FannieMae late. The 1099 is for one bond I have held for a couple years. I have forty bonds with this broker and it never ocurred to me that I needed to check that I had 1099's for each bond. What is reasonable? What's reasonable is for you to understand the tax implications of your investments. OID notices always come later than 1099-DIV and 1099-INT. Most seem to arrive in mid-March or later. Several of my clients received them just before 4/15 this year. Sometimes you just have to file an extension.Ira
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra