Home Page link  

Reconciling Brokerage 1099-B - is there such a thing as close enough?

  
Groups | Search | About
User Password
Register Now! Lost Password?

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated)

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
Reconciling Brokerage 1099-B - is there such a thing as close enough? GSalisbury 04-01-2008
Posted by GSalisbury on April 2, 2008, 11:25 pm
Please log in for more thread options
>
> Can't you paste a Quicken [note tht I ws abl 2 dfr yr stct] report
> into a spreadsheet sorted by date to produce a running total, do the
> same with the schedule from your broker, and see where the totals
> diverge?

This is a good idea and I can see how it would make it easier to narrow the
focus.
Unfortunately, for me, the brokerage schedule is only in paper form on the
1099 detail. Their site doesn't have a d/l of it other than an image PDF.

>
> Otherwise, consider adding an extra item schedule D labeled as "Cash
> in lieu" with a Various acquisition date for the difference. There
> is a fair chance that CIL was where the difference came from anyway.
>

If I can't somehow spot the difference by eyeballing the two documents and
crossing off matches then I'll probably just go ahead and do the add
something route - the tax difference too me would be in the noise.
Thx

--
<< ------------------------------------------------------- >>
<< 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. >>
<< ------------------------------------------------------- >>

Posted by DF2 on April 3, 2008, 1:55 am
Please log in for more thread options
 In misc.taxes.moderated, GSalisbury wrote:

>Their site doesn't have a d/l of it other than an image PDF.

You can often do a text copy from the PDF. Then paste into your
spreadsheet. If pasting into Excel, do the special paste as text.
This may or may not be formatted well enough to work with.

--
<< ------------------------------------------------------- >>
<< 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. >>
<< ------------------------------------------------------- >>

Posted by dpb on April 3, 2008, 1:56 am
Please log in for more thread options
GSalisbury wrote:
>> Can't you paste a Quicken [note tht I ws abl 2 dfr yr stct] report
>> into a spreadsheet sorted by date to produce a running total, do the
>> same with the schedule from your broker, and see where the totals
>> diverge?
>
> This is a good idea and I can see how it would make it easier to narrow the
> focus.
> Unfortunately, for me, the brokerage schedule is only in paper form on the
> 1099 detail. Their site doesn't have a d/l of it other than an image PDF.
....
Should be able to save the pdf to a file and then import that file into
a spreadsheet as a text file I'd think...

But, being (the engineer) who suggested the pragmatic approach, that's
getting to the point of effort that for $20 or less I'd probably think
my time more entertainingly spent elsewhere... :)

--

--
<< ------------------------------------------------------- >>
<< 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. >>
<< ------------------------------------------------------- >>

Posted by GSalisbury on April 3, 2008, 10:48 am
Please log in for more thread options

>
> But, being (the engineer) who suggested the pragmatic approach, that's
> getting to the point of effort that for $20 or less I'd probably think my
> time more entertainingly spent elsewhere... :)
>
I agree!
Time spent ensuring that my preferred brewery remained productive is more
worthy.

--
<< ------------------------------------------------------- >>
<< 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. >>
<< ------------------------------------------------------- >>

Posted by GSalisbury on April 6, 2008, 8:33 pm
Please log in for more thread options


> you could just use the higher number on the 1099, and save yourself the
> trouble. Of course, you won't. Neither would I. But we COULD . . .
>
> --

I tracked it down to a single line in Qkn that WAS dl'ed from the broker but
was "mis-coded" in Qkn so it wasn't included in the Qkn Cap Gains TXF.
Once I corrected the shares buy/sell history in Qkn the item was corrected
to a Sell and everything matched - the Qkn Cap Gain agrees with the Broker
1099B.
phew!
Thx for all of the ideas.
Geo.

--
<< ------------------------------------------------------- >>
<< 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. >>
<< ------------------------------------------------------- >>

Similar ThreadsPosted
FIFO with two brokerage accts. July 12, 2007, 7:34 pm

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap