Questionable 1099 Tax Forms from Broker


I sold all owned shares of a particular stock through my on-line broker at the end of 2018. I downloaded the broker’s 2018 Consolidated 1099 Tax Form which included the 1099-B for the stock sale. There were several transactions involved, including initial and add-on purchases plus reinvestment of dividends over the approximately two-year period I held the stock. The cost basis shown on the broker’s 1099-B is considerably less than my own records (kept in Quicken) and less than the costs shown on individual transaction records and/or monthly account statements, and one transaction is recorded (on the 1099) as ‘long term’ even though that particular lot was only held seven days. The broker insists their 1099 forms are correct. What should I do (besides dealing with a different broker in the future)?

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Posted by Anonymous
Asked on February 8, 2019 10:09 am
Public question