Janitor Bob Posted April 9, 2015 Report Share Posted April 9, 2015 Completed taxes for a client that had several pages of 1099-B transactions...was glad to have it done..spent at least two hours digging through the investment company's Combined 1099 statement. What does client receive in the mail yesterday? A REVISED Combined 1099 statement....and almost everything is different! Most stock transaction have the same gain/loss, but some have different purchase dates and have moved from LT to ST and vice versa....Dividends and capital gains are much higher. What's the use of sending a statement when you're just going to change everything? I will tell client to send the bill for the amendments to his investment company. 3 Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 9, 2015 Report Share Posted April 9, 2015 "I hope this won't change my taxes."Bahahahaha, OMG the things clients come off with! I double-dog dare you to say "Nah, that won't change your taxes," and see what reaction you get. Sometimes I just say stuff like that to call people out and saying stupid crap that they know is incorrect. 3 Quote Link to comment Share on other sites More sharing options...
RitaB Posted April 9, 2015 Report Share Posted April 9, 2015 and saying stupid crap that they know is incorrect.*on Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 9, 2015 Report Share Posted April 9, 2015 I had one client a couple of years ago with a broker's 1099 and 3 subsequent corrected forms that followed, the last being received on 4/11 and that was 2 days after we both thought it was safe to file the returns. The broker had this client invested in REITs that would report amounts that were later revised. Client got out of the REITs and the problem with the corrected forms has gone away. I just finished one of my larger personal returns yesterday that involved 9 separate brokerage accounts having a lot of activity and a large pile of other docs from a bunch of bank accounts, mutual funds with Vanguard,IRAs and on and on. Today when I called to set up an appt, the guy tells me that his sister *thinks* there will be a correction to one of the brokerage accounts that involved inherited assets from their mother that died in 2014. Sister is the executrix and is making a total mess of it, and doesn't know if it will affect 2014 or only 2015(!?!). Thankfully sister is NOT my client, but my guy doesn't know what it is that is changing or why! 3 Quote Link to comment Share on other sites More sharing options...
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