Message Font: Serif | Sans-Serif
No. of Recommendations: 2
Frankly one of the major frustrations was that his Wells Fargo "financial advisor" absolutely refused--or was truly incapable himself of understanding it--to make a definitive statement as to which was correct. He hid behind the "we can't give tax advice" line, when I clearly wasn't asking advice, but rather confirmation of veracity of information--an entirely different category of question. "Is this accurate, or is that?" That's not seeking advice.

Once again, I've got to agree with the Wells Fargo advisor. (Hang on a second while I finish gagging over that statement. I'm not fond of Wells Fargo Advisors in general.) You were indeed seeking tax advice. You were asking how the transaction should be reported on a tax form - a 1099 in this case. And he quite rightly brought up the tax advise line.

Perhaps your father's tax accountant was doing more than just keypunching??

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.