"sandybeth" <sandyhb6[at]yahoo.com> wrote
- quote -




They can't "get it right" because of the investments you hold. Mutual fulds
that invest in such a wide variety of things, and buy and sell at
super-sonic speed, that it takes a while before THEY get the straight
reporting from the entities they invested in that they aren't getting the
straight dope till mid March at times.

This all has to do with the taxing of "qualified" dividends at a different
rate than ordinary dividends. When the next administration gets into
office, you might see a change in this area, maybe for the worse (as in
higher taxes).





- quote -



And that fee will come straight off your return on investment. Fine with
you now?

They are required by law to issue 1099's by the end of January. They are
also required by law to issue corrected statements whenever they find an
error in reporting. It's not the fault of the investment brokerages that
you filed early.




--
Paul A. Thomas, CPA
Athens, Georgia

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- quote -

wait to mail them till this weekend for the same reason. However a
corrected 1099 in June is ridiculous!

Jeff

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In article
<2c5520bd-61ae-4764-9a33-bfb056352091[at]a22g2000hsc.googlegroups.com> ,
sandybeth <sandyhb6[at]yahoo.com> wrote:


- quote -

The ones that I have received are usually because a mutual fund has not
sent (or sent late) the correct information to the broker. This has
happened to me so often, particularly for funds with foreign
investments, that I don't file until after April 10 (I mailed my returns
today) in hope that I will get the corrections before filing (it doesn't
always work that way - I have received a corrected 1099 in June).

--
-Ernie-

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On Apr 11, 3:02*pm, "Wade Lippman" <Trading On Line...[at]yahoo.com> wrote:
- quote -

What's with all these corrected brokerage 1099's? I have gotten them
for several years now, from Oppenheimer and Etrade both. Not a year
has gone by in 5 yrs that I haven't gotten one, AFTER I've gotten
taxes done. 2 years ago I got TWO from one firm. Why can't they get
it right the first time? There should be a law that brokerages have
to cover the extra cost after February 1st. Last year I ignored one
because it came in April and was in my favor, but would have cost me
more (in time & money) to amend than I would have gained by amending.
I'm certain that the IRS is not going to contact us to file an
amendment if we are owed money.
SandyBeth

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"Wade Lippman" <toller[at]yahoo.com> wrote
- quote -




If ordinary dividends stayed the same, then yes, you paid a bit too much.

Maybe later in life - like May or June - work up an amended return to see
what difference it makes.

If it's worth it, send it in.




--
Paul A. Thomas, CPA
Athens, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I got a corrected 1099 from etrade today. They suggest I speak to my tax
professional about it if I have already filed. They don't say if they will
pay for the expense. (just kidding...)

Although dividends has stayed the same, qualified dividends has gone up.
Presumably that means I paid too much tax and the IRS won't care if I ignore
it?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >