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Financial Planning / Tax Strategies


Subject:  Re: Incorrect 1099 Date:  2/24/2013  7:30 AM
Author:  TMFPMarti Number:  117871 of 131786

A 1099 does not create a liability that wasn't there in the first place. Prepare the return using the right dates and numbers, then respond accordingly if the IRS inquires. It's always nice to get a corrected 1099 from the issuer, but it's not necessary, and I wouldn't waste more than a phone call trying.

If you're using Form 8949 pay careful attention to the form's instructions since there's a specific way of correcting 1099 information for an "A" transaction.

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