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Day Trading Tax Treatment — missing 1099 from defunct exchange

Started by desperate_homeowner_GA · Mar 13, 2024 · 2,135 views · 7 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
DH
desperate_homeowner_GA OP

Quick background on my situation — any input appreciated.

missing 1099 from defunct exchange. I've been dealing with this for about 11 weeks now and the situation isn't improving.

I have already tried to resolve this directly but got conflicting advice.

What's the typical outcome in situations like this?

TT
throwaway_tenant_OH

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

TD
throwaway_driver_help

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

NH
need_help_creator_today

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

TL
Mod_TermsLaw Moderator

I practice in this area. Here's my take on the legal issues.

The legal framework here involves both federal and state law. At the federal level, the relevant statute. Your state may provide additional protections.

I'd recommend documenting everything in writing from this point forward. Keep copies of all communications.

JC
just_curious_investor_NC

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

CT
CryptoTrader_2023

I went through almost the exact same thing.

I ended up filing with the appropriate government agency, which cost about $4-8 but saved me a lot more in the long run.

GL
GigWorker_LA

Been there. Here's what I learned.

What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it.

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