Please Help with this tax question

[potayytoe]

If you traded options, the total of Schedule D and 1099 won't match, since the 1099 does not report options trade.

 

[trader388]

Options - no part of an options transaction is reported to the IRS.
Futures - complain to IB ...if enough people complain they might change for next year.

 

[Carl J]

Anyone know why IB does not report option transactions on the 1099? How do other brokers handle this? How is the IRS going to know what you are reporting (or not reporting) true?

 

[trader388]

Option transactions aren't reported to the IRS. It's completely up to you what you report for cost basis and sales proceeds.