• Report: #440676

Complaint Review: T D Ameritrade

  • Submitted: Fri, April 03, 2009
  • Updated: Fri, April 03, 2009

  • Reported By:Richmond Virginia
T D Ameritrade
Box 2717 Omaha,, Nebraska U.S.A.

T D Ameritrade Wrongful Income report to IRS by Investment Broker Omaha Nebraska

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On the 1099 form issued to IRS by TD Ameritrade (TDA) the dividend payments to my online trading investment brokerage account held by them in 2008 shows an amount over double what I actually received from BPT, a Texas oil trust. The wrong amount was income the trust made before they paid out dividends to shareholders. I have pointed out the error and asked them three times to issue a correct form 1099 or a letter stating the correct amount i received. They refuse, quoting a new regulation (WHFIT). This surely does not justify their making a false entry of my income in a sworn IRS declaration. They say that I can reduce the amount shown on the 1099 to what I actually received, by using expense figures they give me (but do not declare to the IRS), for which I have no proof and never actually expended.
I have checked online the TDA history journal statement of my account. It confirms the correct smaller amount of income that I actually received. On the message board of the oil trust BPT, numerous clients of this broker TDA are meeting the same problem. Other brokers tell me they would never knowingly make a false entry in a form 1099, and know of no IRS regulation that could require that. What can I do to make TD Ameritrade report to me and IRS jointly, the correct amount?

Richmond, Virginia

This report was posted on Ripoff Report on 04/03/2009 07:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/T-D-Ameritrade/Omaha-Nebraska-68103/T-D-Ameritrade-Wrongful-Income-report-to-IRS-by-Investment-Broker-Omaha-Nebraska-440676. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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