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A 1099 from a broker is often insufficient to correctly prepare a tax return.

Just to be perfectly clear, I should have said:

A 1099 from a broker is often insufficient to correctly report the activity at that brokerage on your tax return.

And to be even clearer, I'm talking about more than just K-1s that might result from investing in limited partnerships in your brokerage account. (Those are another whole soapbox, which I will refrain from climbing onto for now.)

--Peter
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