barmar[at]alum.mit.edu (Barry=A0Margolin) posted:
- quote -

Barry, my response referred to _dividends_ being reported by
a "broker" (my original mistake of misreading the issue). I
was clarifying that if the broker's consolidated 1099
includes some 1099-B items, "Proceeds from Sale" ... then
you cannot use a consolidated report total for "different
mutual funds."

I believe that is correct. "Various" can be used to report
a sale of the _same_ security, in which the block of shares
sold includes purchases from a number of different dates,
all of which were sold on the same date.

Bill

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an_ordinary_guy_158[at]hotmail.com (Bill) wrote:

- quote -

Actually, you can combine multiple purchase lots that are
all either long-term or short-term in a single line of
Schedule D corresponding to the sale. Enter "various" as
the purchase date.

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA

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- quote -

If you happen to be using tax software such as Turbo Tax,
investigate simply downloading your 1099 info directly into
Turbo Tax from the Vanguard Web site and you need not worry
about it, I would expect.

--
Regards -

- Andrew

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mel[at]prodigy.invalid.net (MB_) posted:

(elided)
- quote -

Note correction:

My answer was provided with a basic misreading of your
question. I was responding for a broker account. You
should report the income from the individual mutual funds,
as the parent fund breaks them out.

If your funds were held in street name with a broker, my
earlier answer would be correct. Sorry 'bout that.

Bill

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You need a line on Schedule B for every dividend line in the
1099. Many tax agencies will computer match these line for
line and write an inquiry letter if they dont match.

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"MB_" <mel[at]prodigy.invalid.net> writes:

- quote -

You should list it by fund. Each fund is actually
separately reporting to the IRS (each fund is a completely
legally separate entity) and that's how you should report
it, too.

(This is in contrast to when the funds are held in street
name in a brokerage account -- in that case the broker does
the reporting and will just file a single report. Likewise,
you'll make only one entry on Sched B, using the broker's
name).

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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mel[at]prodigy.invalid.net (MB_) posted:

- quote -

Yes. Anytime a broker provides a consolidated 1099, you
have the option of just reporting the broker totals for such
items (i.e., interest, dividends, Cap Gains Distributions).

Please note, however, that if sales of securities -- Form
1099, Proceeds from Sale or Barter, etc -- are involved, you
must list the individual securities with their original
trade date, sale date, cost and net proceeds (which should
match, in total, the net proceeds reported on the 1099).

Bill

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"MB_" <mel[at]prodigy.invalid.net> wrote:

- quote -

I recommend you report it the same way that the fund does on
the 1099-DIV. If they break it down, you should as well; if
they send you a consolidated statement, you can report all
the combined numbers.

The IRS is going to try to match the numbers on your tax
return with the numbers that the fund sends them. So you
should endeavor to make yours match theirs.

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA

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Suppose I get a 1099-DIV statement from a mutual fund
company (eg: Vanguard) that lists a few funds that I own.

Each individual fund has entries in the various columns.

My question: when reporting this on my Schedule B, can I
just say Vanguard Funds and just list the totals. (eg: Fund
A has $20; Fund B $30 and Fund C $50, all taxable,
qualified, etc. Can I just list Vanguard Funds $100.)

MB

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