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I thought I knew this stuff, but it's hard to believe that a broker the size of IB could get this wrong.

Ken

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Oh Ye of little faith! IB is actually pretty small compared to the likes of Merrill Lynch and Fidelity, and they manage to get stuff wrong - or at least reported in such a way that doesn't reflect the actual transaction - all too often.

I once had Fidelity report $15,000 of proceeds on a bond, of which I never, ever, owned more than $5,000 par value. I sort of knew why, on that one. I had sold pursuant to a tender offer that was rejected initially, due to insufficient response by the total number of bondholders, and then later went through. They had cancelled and re-entered the trade in my account twice, and there was no reason for either. There was only one actual sale, and one receipt of $5,000.

So I reported 3 sales, one with the actual gain. And then two more $5K sales, with no gain or loss, to avoid a later round of correspondence with IRS.

Bill
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