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Hi, is it possible to file my tax return before receiving my 1099b from my broker? I'm scheduled to receive my 1099-b by Feb 15th but want to file my return earlier.

Forum|Forum|6 years ago
June 7, 2019
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I can obtain the necessary information (short term gain/losses, long term, etc) from my brokerage statements for 2016

Best answer by DavidD66

While it is possible to file your return before you receive your 1099-B, you should NOT file your tax return prior to receiving your 1099-B. Without knowing the complexity of your investment transactions it's hard guess what sort of potential problems could occur as a result of doing so. You could have disallowed losses due to wash sales, if you have dividends you won't know the amount that are qualified dividends, etc. If your transactions are few and simple, you may be able to do so without any problems, but I don't recommend doing so.

D

DavidD66Answer

While it is possible to file your return before you receive your 1099-B, you should NOT file your tax return prior to receiving your 1099-B. Without knowing the complexity of your investment transactions it's hard guess what sort of potential problems could occur as a result of doing so. You could have disallowed losses due to wash sales, if you have dividends you won't know the amount that are qualified dividends, etc. If your transactions are few and simple, you may be able to do so without any problems, but I don't recommend doing so.

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