Serbinski Accounting Firms

Thanks MGeorge! I filed my taxes yesterday before I saw your reply but I ended up contacting TaxACT support and they had also recommended using 8621s and adding a note regarding the fact that the information from 1099Bs was entered on 8621s.

I was thinking about this some more and while I think filling a 8621 might be the way to go, I'm really hesitant to just disregard the 1099-B because that information is reported to the IRS by the broker. It feels like playing it dangerously to fail to report it when the IRS will already have that ...

Meh, I guess that sounds right. I hate when some authority (broker) just adds to this already very confusing process.

Thanks MGeorge. I am in fact a Canadian citizen living in the US. This fund is a Canadian fund that I sold in 2014. I'm going to go with the 1099B and get rid of the 8621. That was also my intuition and your answer gave me a bit more confidence.

Thanks!

Hi,
I had a mutual fund that I sold in 2014. I had initially filed the disposition gains in Part V of a 8621 but I just received today a 1099B form that provides the same information. This slightly confuses me since leaving the 8621 would mean that the gains on that disposition would be accounted ...