USA help with Morgan Stanley consolidated statement

Jun 24, 2017
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United States
A tax client blew up at me for taking too long with his brokerage statement and asking a lot of questions. I admit it was more complicated than I'd seen and since he took away it I don't have it in front of me.

It was not an IRA. On the summary page there were the usual 1099-div, qualified dividends and capital gains. Then a 1099-int with less than $1. I looked around and all through to make sure I wasn't missing anything else. IIRC on pages 7-9 I saw proceeds from the sale of different MS mutual funds. There were some with different sell dates and lots of fractional shares, small sales and big. I asked if he sold some securities, and he said he didn't take any money out of it and lets his advisor do whatever she thinks is right.

I was really tired and not thinking clearly and so started entering them on Sch D. There was a lot to put in.

But it occurred to me later, in a normal consolidated statement, would those sales all be included in the capital gains number of the 1099-div? Would the owner not really have to report the sales individuallyl? I didn't get a chance to add them up before he was out of there, very angry. I looked at his prior year returns and there were only 2 such sales. What kind of account would this be? An active advisor of a fund of funds or ???


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