You are very helpful and kind.
Sadly it's too late to file for an extension as I sent in the return. Big mistake. and as you said I may need to do paper return if it involves substitute 1099. itt needs to be amended and I started on that.
I put more money though in my IRS Direct Pay to the 2024 return to cover penalties One doesnt even have to file a form to get an extension if one pays the tax. That is new in 2025 they said.
Not sure about the state. I put more money in there too
Do I have to file an amended state return? These penalties are imposed by IRS I assume.
There is no tax on the distributions except the earnings, which in MA is only 5%. I assume that requires an amended return but I am confused still about what happens for 2023 on the 2024 return as opposed to what happens for 2023 on the amended 2023 return, and the difference between IRS and state for this issue.
since I contacted UBS compliance I will pursue them paying my penalties. They get large fees for managing my portfolio.
