Hi,
I have a brokerage account with Scottrade and they sent me a composite 1099Div,1099INT which totals all the things across the funds I own. Do I just need to report all this under Scottrade's name or list the individual mutual funds seperately and show the Div and Capital gains.
Thanks
2007-03-19 14:47:51 · 7 answers · asked by theguy 1 in Business & Finance ➔ Taxes ➔ United States
Scottrade
2007-03-19 14:51:12 · answer #1 · answered by Jo Blo 6 · 0⤊ 0⤋
I can tell you what I do although I'm not sure if this is what is "supposed" to be done but I have had no complaints from the IRS so far. For the dividends and interest (1099DIV and 1099INT), you can just pull the numbers straight from those forms, you do not have to list all dividend payments.
For capital gains, I print out the "gainskeeper" readout from the Scottrade account and on the 1040 I just label "Scottrade (see attached)" and list 01/01/06 as the date of purchase and 12/31/06 as the date of sale, the total proceeds and cost basis for all trades made in 2006 (this should be at the bottom of your gainskeeper read-out) and then make sure I include the printout with my return. The IRS is smart, they can figure it out.
2007-03-19 14:58:18 · answer #2 · answered by wright_gm 2 · 0⤊ 0⤋
Listing "Scottrade" as the payee for dividends and interest is fine. The only thing that you need to be a bit more careful about is on selling securities: in that case, you need to show each security that was sold, not just "Scottrade" with totals.
2007-03-19 15:29:42 · answer #3 · answered by SuzeY 5 · 0⤊ 0⤋
What is reported on number 3 0f the 1099 and does it have to be reported on my taxes?
2015-02-23 01:39:44 · answer #4 · answered by Billy 1 · 0⤊ 1⤋
Interested in this as well
2016-07-28 09:52:50 · answer #5 · answered by Martina 3 · 0⤊ 0⤋
I also have the same question
2016-08-23 21:33:41 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Thanks everyone for the answers!
2016-09-19 05:21:13 · answer #7 · answered by ? 2 · 0⤊ 0⤋