well, that sucks
Jun. 12th, 2012 08:58 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
winterbadgerThe issue the IRS had with my return from 2010 was that a stock sale was reported to them that I didn't include on my return. The only 1099 I had from the company that handled my company stock for that year showed a much smaller sale (in # of shares and $). But going back to the *previous* year's return and the papers I had saved with that, I can see that I had the larger amount (both shares and $) then. So I must have sold it in either 2009 or 2010, but the company never sent me a 1099 for it, and by the end of the year I'd forgotten it. So it seems clear I do owe the back taxes. :-(
To add insult to injury, they figure the tax on zero cost (meaning that they assume the income from the sale of the stock is all profit), and since I have no 1099 showing how much I gained or lost (and I lost money on the smaller transaction), I can't really contest it (though I suppose I could send them the papers from the previous year, showing the cost value of the stock at that time).
Don't get me wrong; it's not a crippling sum of money I owe by any means (about a fortnight's pay, and I have plenty of savings--I don't live paycheck to paycheck). But I can think of things I'd rather do with the money, and it irritates me that either I was careless and lost the 1099 or the company was careless and didn't send it to me.
To add insult to injury, they figure the tax on zero cost (meaning that they assume the income from the sale of the stock is all profit), and since I have no 1099 showing how much I gained or lost (and I lost money on the smaller transaction), I can't really contest it (though I suppose I could send them the papers from the previous year, showing the cost value of the stock at that time).
Don't get me wrong; it's not a crippling sum of money I owe by any means (about a fortnight's pay, and I have plenty of savings--I don't live paycheck to paycheck). But I can think of things I'd rather do with the money, and it irritates me that either I was careless and lost the 1099 or the company was careless and didn't send it to me.
