urgent: IB 1099 for 2011 doesn't match Total P/L for 2011 Statement Period

Quote from jackpearson:

why not just compute the 8949 yourself & forget the 1099-B numbers that are wrong? The IRS can't complain if your numbers match up to your trade list. As long as you can prove via your trade history your numbers are correct, there's no problem.
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I'll certainly defer to Robert Green, but my concern would be if there is a mismatch, the IRS gets the 1099B numbers from IB and their computer expects them to match the 8949.
 
Quote from Bob111:

exactly.. i was saying same in my previous posts...irs is shooting themselves in the footwith all this new s**t......i would leave 1099 for iras to figure it out my pnl..i know that my calculations from 8949 are right..they have to dig a bit more now...look into my 8949,to match everything.. :p :p :p
enjoy it , irs
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Agree. Let them reconcile 1099-b and 8949 if they want to. :)
 
Quote from AAAintheBeltway:

I'll certainly defer to Robert Green, but my concern would be if there is a mismatch, the IRS gets the 1099B numbers from IB and their computer expects them to match the 8949.
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Of course that's a concern, BUT, we can't control what a broker will or won't do as far as corrections.

Changing your trade history to match a brokers 1099-B when you know your trade history is correct is wrong, in my opinion.

The goal isn't to match your trades to their 1099-B's. The goal is to accurately submit your trades on your tax form. The IRS will get the trades. They'll see you did it correct.

My view is to file your trades accurately on time & be done with it.

How can that view be wrong?

You could file extensions now & the brokers STILL may not make the necessary corrections. I'd rather have my tax form in on time & correct.
 
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