I use scottrade and they sent me a composite 1099 statement. When doing my taxes, what do I need to give my accountant? Do I just give him the 1099 statement? Last year, was the first time trading stock.
Give them everything Scottrade sent you for your taxes. Scottrade privedes everything you need, except your purchases for last year. The 1099b only shows the proceeds from your stock sales. But Scottrade provides the purchase information too, which your accountant needs. Also make sure you provide purchase information from previous years, for stock you sold in 2008. You can log into your Scottrade account and find that information.
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just give him whatever they gave you – if he needs something more, he’ll tell you.
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when you go take all of your paper work and they will use what they need.
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They will need to know of any capital gains or losses. They will need to know whether gains are "long term" or "short term" . They will also need to know of any dividends or interest paid to you through your Scottrade Account. Have a great day!
References :
Give them everything Scottrade sent you for your taxes. Scottrade privedes everything you need, except your purchases for last year. The 1099b only shows the proceeds from your stock sales. But Scottrade provides the purchase information too, which your accountant needs. Also make sure you provide purchase information from previous years, for stock you sold in 2008. You can log into your Scottrade account and find that information.
References :