club_cafe: 1099 didn't report broker interest and dividends

iras1 on

In a message dated 02/10/08 3:17:57 P.M. Eastern Standard Time, etana_finkler@bivio.com writes:

The TDAmeritraded 1099 says $179.55 dividend
Bivio says 180.65

I checked that all the stock dividend totals were correct.

There is $1.10 TDAmeritrade dividend in Bivio that is not
reported on the 1099 from Ameritrade.

Report the correct amount. What is the specific $1.10 transaction? Perhaps you've entered it wrong.

There is 5.65 TDAmeritrade interest that is in bivio (with
AccountSync), but not on the 1099.

TDAmeritrade doesn't report interest if it's under $10. That is acceptable under IRS rules. You should report the correct amount of interest on your return.

Stockettes_TDAmeritrade 1.10
Total Dividend 180.65
Interest
Stockettes_TDAmeritrade 5.65
Total Interest 5.65

Should I report this to TDAmeritrade and get another 1099
generated from them?

They won't do it since you haven't demonstrated that they made a mistake yet.

Ira Smilovitz

Who's never won? Biggest Grammy Award surprises of all time on AOL Music.

Etana Finkler on

Ira and all,

The $1.10 is the total of the 3 dividends TDAmeritrade gave
us.
The $5.65 is the total of all the interest TDAmeritrade gave
us.

Neither of these are reported on the 1099 and both are in
the total line in Bivio of the Transaction report. As you
said, both together are less than $10... so from what you
said I should report them, but ignore the difference in both
cases. Is that correct?

You wrote:
> Report the correct amount. What is the specific $1.10 transaction? > Perhaps you've entered it wrong.
______________________________
Here are the transactions from bivio that add to $1.10:
01/31/2007 Account dividend, Stockettes_TDAmeritrade
0.26
02/28/2007 Account dividend, Stockettes_TDAmeritrade
0.22 03/30/2007 Account dividend,
Stockettes_TDAmeritrade 0.62
______________________________
Again, the $5.65 interest has monthly small transactions
that total in bivio to #5.65 but are not on the 1099.

thanks for your advice.
We're actually only ONE PENNY off in total.
Etana

Gene Rooks on

Etana, the broker is not required to issue 1099 information on interest
under $10. But you can find the information on their 12/31 normal monthly
statement to reconcile with. If you know your entries are correct and your
cash balances, you are fine. Gene

Mail