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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121478  
Subject: Re: Gross Proceeds (1099-B) help Date: 2/13/2013 11:58 PM
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So, Now that I have a 1099-B form that I didn't file, what do I do????

I don't know if it matters, but I'm carrying over (for the past 8-10 years) a relatively large loss... since I don't trade in taxable accounts anymore, I've been taking the $3000 yearly deduction...I still have 24K carry over...


First the lecture. Why wasn't there something in your 2012 papers showing that this happened? You deal with the tax implications of splits/spinoffs/mergers when they happen, noting your records. That way you don't find yourself trying to figure things out sometime down the road when you can't find anything. Your statement that you don't trade in taxable accounts any more can't be true or you wouldn't have gotten this payment. Maybe what you have just sits there, but that doesn't mean that you can totally ignore it.

Second the request. Please don't call your refund your "return." The return is what you file to claim your refund. It's like fingernails on a chalkboard to some.

Finally your hall pass. Make a note on your copy of your 2012 return to reduce your carryover by $55 (the proceeds in question) when you put it on your 2013 Schedule D. Don't bother with an amended return. This assumes that your state return doesn't require an adjustment.

Phil
Rule Your Retirement Home Fool
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