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Returning Member
posted Jun 3, 2019 10:11:58 AM

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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1 Best answer
Level 15
Jun 3, 2019 10:11:59 AM

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).

2 Replies
Level 15
Jun 3, 2019 10:11:59 AM

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).

Returning Member
Jun 3, 2019 10:12:01 AM

Thank you Michael for your help.