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Account Down Under
» From: Eagle Point, OR
Dear TaxMama:
I have a Australian stock account with TD Waterhouse.
Are they responsible for sending me a 1099B form for
activity in the year 2001? I have not received one
from them yet, and when I contact them about it, they
kind of draw a blank, then don't get back to me.
Are they responsible? Or are they right in thinking
[hey it's not my problem, man --- you live in the USA.]
Thank You
Dean
Dear Dean,
You bet they're right.
They operate on Australian rules, not ours.
So, don't expect a form that doesn't exist in their world.
However, you can ask your broker for a report that
summarizes your activity - all your dividends and interest
earned, the stock sales, etc.
In fact, you may be able to get it online and just print out
the information you need.
Remember, when you open accounts outside the US, it's
YOUR responsibility to track the information you will
need for US purposes.
Businesses in other countries have a hard enough time
complying with their own laws. They don't know - or
care about ours.
(But, you would think a company that large, with offices
in the USA could be a little more helpful?)
Best wishes,
Eva Rosenberg
Your TaxMama
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