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Franky
Returning Member

Do I use the 1099 from my bank or the 1099 from my brokerage firm? My investment was through a bank. The bank assigned an acct #. The bank's brokerage assigned another.

The same little money, two acct numbers and two 1099s.  Worse is that the numbers on the two 1099s don't match. What a mess.
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Do I use the 1099 from my bank or the 1099 from my brokerage firm? My investment was through a bank. The bank assigned an acct #. The bank's brokerage assigned another.

I would call the bank and/or brokerage as it appears you had two accounts, one at bank and one with the brokerage (through the bank). 

One might have been for only part of the year.  You need to ensure you report 100% of the income, so I would make a phone call or go through the statements to see what is going on.

So when the return is filed, you are comfortable that 100% if the income is reported (not twice, but once).

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2 Replies

Do I use the 1099 from my bank or the 1099 from my brokerage firm? My investment was through a bank. The bank assigned an acct #. The bank's brokerage assigned another.

I would call the bank and/or brokerage as it appears you had two accounts, one at bank and one with the brokerage (through the bank). 

One might have been for only part of the year.  You need to ensure you report 100% of the income, so I would make a phone call or go through the statements to see what is going on.

So when the return is filed, you are comfortable that 100% if the income is reported (not twice, but once).

Franky
Returning Member

Do I use the 1099 from my bank or the 1099 from my brokerage firm? My investment was through a bank. The bank assigned an acct #. The bank's brokerage assigned another.

Thank you Michael for your help.

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