No, you should not alter your records to match the broker's unless you know that the broker is right. You may find that the broker will issue a corrected 1099. Even if it doesn't, it is the taxpayer's responsibility to report his taxable income accurately.

 

I asked previously how the original poster determined bivio was correct so that we might be able to confirm his conclusion.

 

Ira Smilovitz

 

Dave...

Change Bivio manually to conform with the brokerage 1099. That's what's
reported to the IRS.

You  will also be better off tax wise.

Arthur Klages
Treas. Senior Investment Club LLC



-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of David
Smith
Sent: Wednesday, February 06, 2008 7:28 PM
To: club_cafe@bivio.com
Subject: club_cafe: Broker lists all dividends as qualified

E*Trade has listed all of our dividends as qualified.  Bivio lists several
of them as not being qualified.

Bivio seems to have it right.  Should I just use what bivio says and list
both qualified and non-qualified for tax reporting and not match the broker
statement?

Thanks, Dave