billymach4
TUG Member
With many financial institutions going paperless this scares me.
At least once I get the envelope in the mail I add it to my tax file to reference when I prepare my return.
With the various PayPal's, redweek's, and others going all paperless there is a greater chance of forgetting a 1099 or other statement.
For Example I sold a unit in August. Got a 1099-S in the mail back in August.
I am reminded now since I am doing TurboTax now. Had this been an paperless report I would not have recalled to report this sale.
One tip is to file an extension and pay by April 15th.
Then in about 2 months you can sign in to see your IRS account and look at the transcripts to compare what you reported and the other institutions have reported.
I may do that this year. However regardless I will still be checking the IRS transcripts in late May, June for 2024.
At least once I get the envelope in the mail I add it to my tax file to reference when I prepare my return.
With the various PayPal's, redweek's, and others going all paperless there is a greater chance of forgetting a 1099 or other statement.
For Example I sold a unit in August. Got a 1099-S in the mail back in August.
I am reminded now since I am doing TurboTax now. Had this been an paperless report I would not have recalled to report this sale.
One tip is to file an extension and pay by April 15th.
Then in about 2 months you can sign in to see your IRS account and look at the transcripts to compare what you reported and the other institutions have reported.
I may do that this year. However regardless I will still be checking the IRS transcripts in late May, June for 2024.