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Fidelity 1099 I am posting this problem here in case it is of interest to others, especially those who use Fidelity. When comparing the Fidelity 1099 to Bivio's computation of dividends and qualified dividends I noticed Bivio classified one of our dividends as non-qualified. When I looked I saw we did not hold the stock for 61 days so Bivio was correct that it was non-qualified. Fidelity, however, classified it as qualified. I called Fidelity and they said they would look into it and issue a corrected 1099. As a tax preparer, i am now concerned that Fidelity may have made similar mistakes for other people. How many other brokers are making this mistake. Bottom line, if Bivio and your broker do not match in the dividend category, you need to determine which is correct and possibly get a corrected 1099. Linda Pointe Players Sent from my LG V20, an AT&T 4G LTE smartphone Too bad that you can not record it as a qualified dividend as per the 1099 and the IRS goes after the Broker for the difference in the missed taxes that should have been paid. That would make the brokers more careful in their reporting. Meanwhile, the investor has to wait for a corrected 1099 and all the club members have to wait longer to do their taxes. John ABODI Investment Club On Monday, February 27, 2017 11:36 AM, "wiltse@optonline.net" <wiltse@optonline.net> wrote: I am posting this problem here in case it is of interest to others, especially those who use Fidelity. When comparing the Fidelity 1099 to Bivio's computation of dividends and qualified dividends I noticed Bivio classified one of our dividends as non-qualified. When I looked I saw we did not hold the stock for 61 days so Bivio was correct that it was non-qualified. Fidelity, however, classified it as qualified. I called Fidelity and they said they would look into it and issue a corrected 1099. As a tax preparer, i am now concerned that Fidelity may have made similar mistakes for other people. How many other brokers are making this mistake. Bottom line, if Bivio and your broker do not match in the dividend category, you need to determine which is correct and possibly get a corrected 1099. Linda Pointe Players
Sent from my LG V20, an AT&T 4G LTE smartphone
On Mon, Feb 27, 2017 at 3:17 PM, <rice.j1969@att.net> wrote:
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