Category
About Us
Fees
Account
Promotion
Deposit & Withdrawal
Stock Transfer
Crypto
Trading
Markets
Product Navigation
Options Trading
Tax Season
  • All
IPO
IRA
Why Don’t the Aggregate Proceeds Reported on My Form 1099 Match the P&L I see in the App?

The amount reported on the Form 1099 is the aggregated trading amount. Deposits, withdrawals, and your profit/losses have no correlation with your aggregate proceeds.

For example, you deposited $2000 at the very beginning:

  • On day 1,  you purchased ABC shares for $2,000. Then, you sold the shares for a gain of $1,000, with proceeds of $3,000 on day 5.
  • On day 10, you purchased XYZ shares for $1,500 and then sold the same shares for another gain of $1,000 with proceeds of $2,500.

In this example, we will report a proceeds of $3,000 + $2,500 = $5,500 and a cost of $2,000 + $1,500 = $3,500. While you only deposited $2,000, the reported proceeds must be $5,500.

Problem Solved?
Yes
No