<p>Just learned from our CPA that you can authorize him to act on your behalf and get them to send an itemization of any & all amounts reported in your name so you can include all of it in your tax return & not have any surprises. The itemization will include any basis info they have, full name of the investment, sales date & sales price.</p>
<p>They were also able to let him know about the estimated tax payments they received from us.</p>
<p>OK, it doesn’t seem like this is news to anyone but us? Our CPA got 64 pages faxed to him from the IRS of stuff done in my name. It was very helpful to us so we weren’t surprised & our CPA is creating a huge spreadsheet as back up of all of this. Our CPA is a gem!</p>
<p>I could see where it might be helpful in uncovering someone using your SS number, maybe. But I keep good track of my 1099s and W2s so I don’t see a problem in that respect.</p>
<p>64 pages, though? Was it one item per page or multiple 1099s on each page? :eek:</p>
<p>My dad was doing day trading & some of it was in my name & SSN. <sigh> He lost & paid on-line commissions. When it was just H & me, we were pretty good & keep track of everything, but for some reason dad loves to do this stuff. 
Hopefully at some point he’ll get it out of his system, but not so far. Don’t even know how many trades it was but the CPA spent all day yesterday making a spreadsheet on it! We have to do something special for the CPA.</sigh></p>
<p>IRS reporting requirements for trading is almost enough to make a person not trade. I say almost, because most brokers can provide you with data that can be downloaded into a spreadsheet or directly into tax preparation software to almost automatically produce the detailed lengthy reports that the IRS requires for I don’t know what reason.</p>
<p>are… :D</p>
<p>I surely don’t want 64 pages for each of my clients. yuckyuckyuck. The new Schedule D requirements are a PITA. They are sending many notices if the Schedule D’s don’t <em>exactly</em> match the Forms 1099…even if the total sales have been reported. MUCH more of a pain on this than they have been the last 25 years. :(</p>
<p>Will have to beg dad NOT to do so much trading with our SSNs & names. ICK! We are mostly buy & hold folks, ourselves.</p>