Technical topics regarding tax preparation.
30-May-2023 12:56am
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Client has two consolidated Form 1099 from a brokerage company. One was issued in late January. The other one was issued in March. Same account number. But both of them is marked ‘Original’. And the information is very different. One has dividend income while the other one has none. One has no stock transactions while the other one has stock transactions. Has anyone of you seen a situation like this before?
30-May-2023 4:10am
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Once or twice. I wish I could remember the brokerage. There was a “main” account number then two sub-accounts. Sounds like you need to get on a three-way call with the client and find brokerage to find out exactly what has gone on.
If you care to mention the brokerage, someone here may have come across it before and be able to help.
30-May-2023 7:00am
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Check the account number carefully and see if they are the same.
30-May-2023 8:14am
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I have seen some brokerages do two original 1099s for the same account. One is for "regular" transactions and one is for crypto transactions.
Try an internet search. If that doesn't yield anything, I agree with Sumwun, get the brokerage tax dept on the phone.
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