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Posted by Oilcan on February 12, 2008, 9:51 pm
Please log in for more thread options Even when I get detail on 1099's, I always have to this point in time gotten
a total. I would call the issuer (if you think it is important) and ask how
it is being reported.
Oilcan
(notes: Fidelity complicates life) (smiles)
> My point was that the 1099's list each mutual fund on a separate line in
> the account,
> with no overall "total" for each columnar set of boxes,
> therefore not sure what the IRS wants to see transacribed :
> Fidelity total mutual funds - $1,000 div - $900 qual - $78 foreign
> tax
> or - Fidelty Value fund - $900 - $800 - $0
> Fidelity Growth fund - $100 - $100 - $78
> etc.....
>
> SO - there is no total on 1099's... unless I manually calculate each
> columnar set of boxes
> and use that to compare with what Quicken shows... and has Imported into
> TurboTax,
> which we now know - is mostly wrong for TurboTax purposes.
>
> Anyway - it's all here for future reference and searching via Deja /
> Google Groups
>
> Oilcan wrote:
>> It is always best to report what you receive on the paper - unless
>> you have a valid reason to breakout (for example a sale of Stock that
>> has long-term and short-term gains - you would likely receive 1 tax
>> document, but you would need to break it out).
>>
>> I don't export data into a tax software. I run a Quicken Category
>> report and reconcile the paper to that.
>>
>> Oilcan
>>> here's another little nugget... just for reference.
>>>
>>> I have in Quicken - these mutual funds - Fidelity, T.Rowe, Vanguard
>>> Fidelity - multiple funds are under one umbrella account
>>> TRP - they force a single account per fund
>>> Vanguard - multiple funds per account
>>>
>>> Now - when Importing these over to TurboTax,
>>> the question is:
>>> Does the IRS want to see each fund listed on a single line vs a
>>> "total" ie - the Fidelity & Vanguard entries are "totalled" vs the
>>> single lines of TRP
>>>
>>> I went with the line by line -
>>> SO - had to remove/delete the Imported entries for Fidelity &
>>> Vanguard, and then manually create each Sched B (DIV) form for each
>>> mutual fund. --
>>> ----------------------------------
>>> "If everything seems to be going well,
>>> you have obviously overlooked something." - Steven Wright
>
>
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