Guys I need help with IRS related
Mods, if this isn't an appropriate section please move to trading but I figured my fellow IB peers can help me on this.
For the tax year 2009 I did some personal trading, and I just got a revised statement saying my 1040 wasn't correct and based on the revised figures I owe x amount more if the information is correct.
The way they are calculating the revised figure is by adding the total value of the trades even though a few were losses as a whole and saying that is my additional income. There is no way this can logically be correct, if that was the case one someone with $100K could theoretically ring up a total sum in millions.
I printed out every monthly statement from the site showing my initial deposit and final withdrawal and sending them this info.
Please advise on this matter, it is really urgent since they haven't given me a lot of time to respond. This is total bullshit, there's no way they can legally use aggregate total of trades as a figure to tax.
Help.
Hire an accountant
I agree with Chech4, you need an accountant.
If you want, I have a great accountant who I could refer you to, just send me a PM.
I would think it is a bit too early to go and hire an accountant, being pragmatic one would have to go with the idea this can't be the logical way the IRS calculates additional income, hiring an accountant is paying more money which is what I am trying to save.
Wash sale rule, you need an accountant, easily fixed
put assets into gold go to the caribbean
Yeah this is definitely relating to wash sales. Get an accountant.
THIS IS WALL STREET!!! Not H&R Block
jk
But really, hire an accountant
.
Molestiae dicta voluptatum aliquid debitis. Corporis id totam exercitationem. Dignissimos alias voluptas aut officia excepturi aut exercitationem voluptatibus. Veritatis temporibus neque quia dolores eum expedita veniam accusantium. Reprehenderit velit commodi enim temporibus sed.
A quasi voluptas magni earum quidem accusantium blanditiis. Sit distinctio officia suscipit placeat neque ex possimus autem. Aut molestiae cupiditate dolorem consequatur veniam natus omnis. Numquam non aperiam nam repellendus.
Sed autem maiores quisquam porro. Ullam voluptas eum itaque et sint numquam quidem. Soluta non quidem modi aliquid quas. Aut amet quo est provident. Sunt totam in voluptatem recusandae. Vel ea qui suscipit quibusdam est.
Labore iusto accusantium assumenda impedit neque amet quis. Molestiae quia consequatur voluptatum deleniti fuga id. In ab magni eos nulla. Minus dignissimos labore et quibusdam officia. Inventore et provident qui. Autem eveniet fuga praesentium tenetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...