I do not wish to pay taxes on money I haven't received. How do I handle this?
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Income is required to be reported when you have an unrestricted right to the income. Right now you do have a case for proof that you have not received the stock and do not know when or if you might take possession.
That being said, the IRS will look for this income on your tax return, so you have two choices.
If you choose to report the unclaimed property, please use the information below.
You can use various as the purchase date, and the holding period is based on whether you held the stock for more than one year (long term) or one year or less (short term).
Please follow the steps below for this transaction reported to you on a Form 1099B.
Income is required to be reported when you have an unrestricted right to the income. Right now you do have a case for proof that you have not received the stock and do not know when or if you might take possession.
That being said, the IRS will look for this income on your tax return, so you have two choices.
If you choose to report the unclaimed property, please use the information below.
You can use various as the purchase date, and the holding period is based on whether you held the stock for more than one year (long term) or one year or less (short term).
Please follow the steps below for this transaction reported to you on a Form 1099B.
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