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Why is there a large tax difference between imported and hand keyed Ally Invest/Apex Clearing tax data?
Dear Tax/TurboTax Experts,
I had investments at Ally Invest in year 2020.
I imported to TT my Ally Invest tax forms from Apex Clearing, and found my tax liability was $600+.
However, the Form 1099 Composite in my Ally Invest account, I see both Ordinary and Qualified Dividends only at $15.95, and a Form 1099-B amount of -$22.95 for Realized and Aggregate loss on contracts.
After I hand key the $15.95 in to TT, my tax liability hardly changed.
Why the large discrepancy?
Thank you!
‎February 18, 2021
1:46 PM