I allowed someone without a TIN to make trades on a brokerage account I do not use. Who is responsible for the tax filling? How to resolve this?

apntzls · ‎August 16, 2020

Critter-3 · ‎August 16, 2020

What a horrible idea ... YOU are responsible for reporting all transactions that happen in your SS#.

apntzls · ‎August 16, 2020

I agree, it was a bad idea. And indeed that is what I thought was required for me to do. That the transactions would be reported on my next tax return, but he's making the claim that his CPA says that any gains or losses on my account are his because the funds originated from his bank account. Looking for accurate information/guidance on how to deal with this.

Thank you for your input

macuser_22 · ‎August 16, 2020

Consult a tax attorney for legal advice.

That is a legal question and not a tax question and we cannot give legal advice.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Anonymous · ‎August 16, 2020

as an aside, what would the brokerage firm had done had the person lost$1,000,000. do you think they would come after you?

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I allowed someone without a TIN to make trades on a brokerage account I do not use. Who is responsible for the tax filling? How to resolve this?