Heads up - public.com says they've flubbed their 1099's [made a mistake]
Heads up - public.com says they've flubbed their 1099's [made a mistake]
FYI, extracts from what I received from public.com today via email:
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We are reaching out to inform you that our clearing agent, Apex Clearing LLC., has identified a reporting issue in your Consolidated 1099 tax statement. Measures are currently being taken to update your statement and you will receive a revised 1099 tax form for your Public brokerage account. We anticipate the revised form will be available in the near future and will be uploaded directly to your Public app.
To make sure you have the most up to date information, we encourage you to wait to file your tax return until the revised form is available.
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Other issues I've seen from Public.com since I opened an account with them late last year:
- All trading transactions default into trying to get you to pay a $10 "tip". You have to uncheck a checkbox to avoid the $10 fee.
- In early February they rolled out what they call a "concierge" model, which I call their "extra spam" model. From the email:
... I’m ______, and I’m the VP of Customer Experience at Public. I wanted to reach out and introduce myself and our new Concierge service model... I will periodically reach out to let you know about new features and investment opportunities that I think you may be interested in.
- In January they emailed trying to persuade me to re-enroll in their securies lending (short-selling) program, which I had opted out of when I opened the account and which pays nothing to the account holder - all proceeds go to Apex and Public.com. I ignored that email.
- They did, however, credit my account with my $5000 new-account bonus about a month after I opened it. So that part was good.
My take on public.com is that unless you're specifically chasing one of their new-account bonuses, I can't think of a particularly good reason to open an account.
- RV
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We are reaching out to inform you that our clearing agent, Apex Clearing LLC., has identified a reporting issue in your Consolidated 1099 tax statement. Measures are currently being taken to update your statement and you will receive a revised 1099 tax form for your Public brokerage account. We anticipate the revised form will be available in the near future and will be uploaded directly to your Public app.
To make sure you have the most up to date information, we encourage you to wait to file your tax return until the revised form is available.
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Other issues I've seen from Public.com since I opened an account with them late last year:
- All trading transactions default into trying to get you to pay a $10 "tip". You have to uncheck a checkbox to avoid the $10 fee.
- In early February they rolled out what they call a "concierge" model, which I call their "extra spam" model. From the email:
... I’m ______, and I’m the VP of Customer Experience at Public. I wanted to reach out and introduce myself and our new Concierge service model... I will periodically reach out to let you know about new features and investment opportunities that I think you may be interested in.
- In January they emailed trying to persuade me to re-enroll in their securies lending (short-selling) program, which I had opted out of when I opened the account and which pays nothing to the account holder - all proceeds go to Apex and Public.com. I ignored that email.
- They did, however, credit my account with my $5000 new-account bonus about a month after I opened it. So that part was good.
My take on public.com is that unless you're specifically chasing one of their new-account bonuses, I can't think of a particularly good reason to open an account.
- RV
Re: Heads up - public.com says they've flubbed their 1099's
Yeah it's kind of fun to look at the fee schedules of these start-up brokerages to see why I wouldn't go there. The thing that would keep me away from public.com is the 0.05% monthly fee on Treasury account holdings, that $50 a month on every $100K in treasuries, that would really irk me. Of course likely every brokerage company has some fee or feature(present or absent) that would be a showstopper for some one or other. Sometimes it can just be a matter of doing different things at different brokerages, or collecting a bonus for just warehousing some holdings there for a time.robertvax wrote: ↑Thu Feb 23, 2023 6:03 pm ...- They did, however, credit my account with my $5000 new-account bonus about a month after I opened it. So that part was good.
My take on public.com is that unless you're specifically chasing one of their new-account bonuses, I can't think of a particularly good reason to open an account.
- RV
The closest helping hand is at the end of your own arm.
Re: Heads up - public.com says they've flubbed their 1099's
The bottom line is the Public bonus was spectacular, And that's why you (and others) are using them. It's worth a few hiccups, and I fully expect to transfer out once my bonus seasons (unless they offer me a good retention bonus). A few speed bumps for double the bonus available elsewhere. Worth it.
I received this email as well, but my 1099div matches my account history div amount, so not sure what (if anything) could be corrected
Edit: actually I see that they overstated my dividends by about $800, so I'll get a revision, no biggie
I received this email as well, but my 1099div matches my account history div amount, so not sure what (if anything) could be corrected
Edit: actually I see that they overstated my dividends by about $800, so I'll get a revision, no biggie
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Re: Heads up - public.com says they've flubbed their 1099's
This is probably related to foreign tax paid, which was showing $0 across the board. I reached out about this and was told to stand by for a correction.
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Re: Heads up - public.com says they've flubbed their 1099's
Public messed up my dividend selection. I chose the cash option to avoid a wash sale and the system did a reinvestment anyway. They admitted the error in their system and said they have it fixed for the future. Didn’t offer any sort of compensation.
Re: Heads up - public.com says they've flubbed their 1099's
I almost took advantage of the generous sign up bonus for Public they were offering last year, but I am glad I didn’t. I have not read much positive about them. I was only going to park some shares there to fulfill the bonus terms, but it sounds like you have to then watch your account like a hawk to make sure nothing goes wrong.
Re: Heads up - public.com says they've flubbed their 1099's
This thread is now in the Personal Finance (Not Investing) forum (taxes). I also clarified the thread title.
Re: Heads up - public.com says they've flubbed their 1099's
beezlebub wrote: ↑Fri Feb 24, 2023 5:31 am I almost took advantage of the generous sign up bonus for Public they were offering last year, but I am glad I didn’t. I have not read much positive about them. I was only going to park some shares there to fulfill the bonus terms, but it sounds like you have to then watch your account like a hawk to make sure nothing goes wrong.
Like what? I haven't experienced anything wrong except that they will be sending a corrected 1099
Re: Heads up - public.com says they've flubbed their 1099's
Like the issue you just described. Or countless other things that can go wrong such as any changes to their share lending program. For case in point see M1 Finance that recently changed its share lending program which you cannot actually opt out of.tj wrote: ↑Mon Feb 27, 2023 10:17 pmbeezlebub wrote: ↑Fri Feb 24, 2023 5:31 am I almost took advantage of the generous sign up bonus for Public they were offering last year, but I am glad I didn’t. I have not read much positive about them. I was only going to park some shares there to fulfill the bonus terms, but it sounds like you have to then watch your account like a hawk to make sure nothing goes wrong.
Like what? I haven't experienced anything wrong except that they will be sending a corrected 1099
Not worth the hassle for chasing a few bucks to me. For some people it is, but I sleep better dealing with real brokers that have been around for decades and have proven track records, not these pop up shops that are basically just glorified store fronts for APEX Clearing.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Apex Clearing really is awful. Most accounts that I have with Apex as clearing agent have had problems (cost basis, tax forms, etc.). I've chased 4 figure account bonuses knowing that Apex was involved, but probably wouldn't bother again. Public offered a 5-figure bonus, and I would chase that one again if given the chance. Public has generally been pleasant to work with, notwithstanding their limited trading platform.
I'm still patiently waiting for my amended 1099 from Public/Apex.
I'm still patiently waiting for my amended 1099 from Public/Apex.
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Is everyone getting a new 1099 from public.com or just those who received the email? I don’t believe I received any such email from them.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
It's pretty simple - double check your 1099 numbers match what you expect regarding divs, qdivs, 199a, and FT. If they match, you probably won't get a revision. Mine were off. If yours are off, contact them to ensure a revision.need403bhelp wrote: ↑Mon Mar 06, 2023 2:44 pm Is everyone getting a new 1099 from public.com or just those who received the email? I don’t believe I received any such email from them.
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Thnaks. The divs number is correct, I'm not 100% sure how to calculate rest for an ETF. Any suggestions? Thanksnalor511 wrote: ↑Mon Mar 06, 2023 3:02 pmIt's pretty simple - double check your 1099 numbers match what you expect regarding divs, qdivs, 199a, and FT. If they match, you probably won't get a revision. Mine were off. If yours are off, contact them to ensure a revision.need403bhelp wrote: ↑Mon Mar 06, 2023 2:44 pm Is everyone getting a new 1099 from public.com or just those who received the email? I don’t believe I received any such email from them.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Vanguard publishes expected qdiv/FT numbers. Multiplied by share count. I assume other managers do the same.need403bhelp wrote: ↑Mon Mar 06, 2023 3:11 pmThnaks. The divs number is correct, I'm not 100% sure how to calculate rest for an ETF. Any suggestions? Thanksnalor511 wrote: ↑Mon Mar 06, 2023 3:02 pmIt's pretty simple - double check your 1099 numbers match what you expect regarding divs, qdivs, 199a, and FT. If they match, you probably won't get a revision. Mine were off. If yours are off, contact them to ensure a revision.need403bhelp wrote: ↑Mon Mar 06, 2023 2:44 pm Is everyone getting a new 1099 from public.com or just those who received the email? I don’t believe I received any such email from them.
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Thanks. Looks like all my numbers are correct (my initial Google search seems to have been auto-corrected partially by Google or at least didn't get me results I wanted for SCHB). Interestingly, only number I still can't find is 199a for VTI.nalor511 wrote: ↑Mon Mar 06, 2023 3:14 pmVanguard publishes expected qdiv/FT numbers. Multiplied by share count. I assume other managers do the same.need403bhelp wrote: ↑Mon Mar 06, 2023 3:11 pmThnaks. The divs number is correct, I'm not 100% sure how to calculate rest for an ETF. Any suggestions? Thanksnalor511 wrote: ↑Mon Mar 06, 2023 3:02 pmIt's pretty simple - double check your 1099 numbers match what you expect regarding divs, qdivs, 199a, and FT. If they match, you probably won't get a revision. Mine were off. If yours are off, contact them to ensure a revision.need403bhelp wrote: ↑Mon Mar 06, 2023 2:44 pm Is everyone getting a new 1099 from public.com or just those who received the email? I don’t believe I received any such email from them.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
If you didn't receive the email, perhaps there were no errors?need403bhelp wrote: ↑Mon Mar 06, 2023 2:44 pm Is everyone getting a new 1099 from public.com or just those who received the email? I don’t believe I received any such email from them.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Again I'm reminded to watch Public/Apex like a HAWK. My 1099div dividend amount was too high. Public agrees with this. Apex, however, refuses to correct the 1099. This, following my cost basis randomly flipping to an incorrect value multiple times (two? three? I've lost track) over the past 3 months.
I recommend that if your 1099 is incorrect in some way, you contact Public rather than just expecting they'll revise it. I received the "we'll revise your 1099" automatic email, but customer service says that Apex says no.
In hindsight, I'm paying more time and stress for that $10k bonus than I expected.
I recommend that if your 1099 is incorrect in some way, you contact Public rather than just expecting they'll revise it. I received the "we'll revise your 1099" automatic email, but customer service says that Apex says no.
In hindsight, I'm paying more time and stress for that $10k bonus than I expected.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Has anyone gotten their revised 1099 yet? I received the email from Public saying I would receive one but they got my dividends correct the first time. It's been almost a month since they sent out the email and still nothing, this is like a bad joke.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
No, I'm sure people will comment here when/if they receive it.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I received the email below from Public this morning:
We want to give you an update on your 1099 revision and when to expect the updated document.
We have been working closely with Apex Clearing on a daily basis, and anticipate 1099s revisions to be available at the end of this week or early next week. These are being revised and run by Apex Clearing with the goal to have them out as soon as possible, and the information provided is both accurate and complete.
I know how important this is, and we will stay in touch with any updates. We apologize for the delay, know the importance of the upcoming deadline and our Member Support team can assist with any questions or needs you might have this week.
Thank you for being a part of our community at Public.
We want to give you an update on your 1099 revision and when to expect the updated document.
We have been working closely with Apex Clearing on a daily basis, and anticipate 1099s revisions to be available at the end of this week or early next week. These are being revised and run by Apex Clearing with the goal to have them out as soon as possible, and the information provided is both accurate and complete.
I know how important this is, and we will stay in touch with any updates. We apologize for the delay, know the importance of the upcoming deadline and our Member Support team can assist with any questions or needs you might have this week.
Thank you for being a part of our community at Public.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Did you have an open support ticket/chat with them that they replied to? Or was it just a regular email? I didn't receive anything from them even though I did receive the original email on 2/23 about revised 1099s.CRosco wrote: ↑Mon Mar 20, 2023 11:30 am I received the email below from Public this morning:
We want to give you an update on your 1099 revision and when to expect the updated document.
We have been working closely with Apex Clearing on a daily basis, and anticipate 1099s revisions to be available at the end of this week or early next week. These are being revised and run by Apex Clearing with the goal to have them out as soon as possible, and the information provided is both accurate and complete.
I know how important this is, and we will stay in touch with any updates. We apologize for the delay, know the importance of the upcoming deadline and our Member Support team can assist with any questions or needs you might have this week.
Thank you for being a part of our community at Public.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I opened a support ticket on February 14, but hadn't inquired since then.
- whodidntante
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
No 1099 here. Maybe Apex quiet quit.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Apex is a bad joke. This is ridiculous.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
- whodidntante
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I wonder if securities lending revenue explains the 1099 div issues. It should still be corrected.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I have lending opted out. They claim I have a short position, which I never have had, to explain their mistake. Utter nonsensewhodidntante wrote: ↑Sat Mar 25, 2023 2:15 am I wonder if securities lending revenue explains the 1099 div issues. It should still be corrected.
- whodidntante
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Well, that's fun. /sarcasmnalor511 wrote: ↑Sat Mar 25, 2023 2:25 amI have lending opted out. They claim I have a short position, which I never have had, to explain their mistake. Utter nonsensewhodidntante wrote: ↑Sat Mar 25, 2023 2:15 am I wonder if securities lending revenue explains the 1099 div issues. It should still be corrected.
I'm sure a lot of folks don't know their 1099-MISC is wrong. They'll find out three years from now when the IRS sends a bill along with interest.
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
For the 1099-MISC, are you talking about not including the value of the bonus or something else? It appears that ?TastyWorks also did not include their bonus in their 1099-MISC last year...whodidntante wrote: ↑Sat Mar 25, 2023 11:27 amWell, that's fun. /sarcasmnalor511 wrote: ↑Sat Mar 25, 2023 2:25 amI have lending opted out. They claim I have a short position, which I never have had, to explain their mistake. Utter nonsensewhodidntante wrote: ↑Sat Mar 25, 2023 2:15 am I wonder if securities lending revenue explains the 1099 div issues. It should still be corrected.
I'm sure a lot of folks don't know their 1099-MISC is wrong. They'll find out three years from now when the IRS sends a bill along with interest.
- whodidntante
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Public has stated that they intend to issue 1099-MISC for the bonus. They have not actually done so yet. So if you file or have filed without self-reporting the bonus, the IRS will send you a bill a few years from now. If you believe Public.need403bhelp wrote: ↑Sat Mar 25, 2023 3:11 pmFor the 1099-MISC, are you talking about not including the value of the bonus or something else? It appears that ?TastyWorks also did not include their bonus in their 1099-MISC last year...whodidntante wrote: ↑Sat Mar 25, 2023 11:27 amWell, that's fun. /sarcasmnalor511 wrote: ↑Sat Mar 25, 2023 2:25 amI have lending opted out. They claim I have a short position, which I never have had, to explain their mistake. Utter nonsensewhodidntante wrote: ↑Sat Mar 25, 2023 2:15 am I wonder if securities lending revenue explains the 1099 div issues. It should still be corrected.
I'm sure a lot of folks don't know their 1099-MISC is wrong. They'll find out three years from now when the IRS sends a bill along with interest.
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I see, thank you for the clarification.whodidntante wrote: ↑Sat Mar 25, 2023 3:44 pmPublic has stated that they intend to issue 1099-MISC for the bonus. They have not actually done so yet. So if you file or have filed without self-reporting the bonus, the IRS will send you a bill a few years from now. If you believe Public.need403bhelp wrote: ↑Sat Mar 25, 2023 3:11 pmFor the 1099-MISC, are you talking about not including the value of the bonus or something else? It appears that ?TastyWorks also did not include their bonus in their 1099-MISC last year...whodidntante wrote: ↑Sat Mar 25, 2023 11:27 amWell, that's fun. /sarcasmnalor511 wrote: ↑Sat Mar 25, 2023 2:25 amI have lending opted out. They claim I have a short position, which I never have had, to explain their mistake. Utter nonsensewhodidntante wrote: ↑Sat Mar 25, 2023 2:15 am I wonder if securities lending revenue explains the 1099 div issues. It should still be corrected.
I'm sure a lot of folks don't know their 1099-MISC is wrong. They'll find out three years from now when the IRS sends a bill along with interest.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I keep checking in with them about this. They tell me each week they hope to send it out soon, they hope to send it out soon. Blah blah blah. I have already input in TurboTax, the missing foreign tax credit to the best of my approximation, and the $2500 bonus. You think it’s safe to be able to estimate the missing foreign tax credit versus the bonus? The bonus is more concrete
bbrock
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I would wait, personallybbrock wrote: ↑Sat Mar 25, 2023 6:04 pm I keep checking in with them about this. They tell me each week they hope to send it out soon, they hope to send it out soon. Blah blah blah. I have already input in TurboTax, the missing foreign tax credit to the best of my approximation, and the $2500 bonus. You think it’s safe to be able to estimate the missing foreign tax credit versus the bonus? The bonus is more concrete
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Obviously one should report the bonus whether or not they send out a corrected 1099-misc.nalor511 wrote: ↑Sat Mar 25, 2023 6:13 pmI would wait, personallybbrock wrote: ↑Sat Mar 25, 2023 6:04 pm I keep checking in with them about this. They tell me each week they hope to send it out soon, they hope to send it out soon. Blah blah blah. I have already input in TurboTax, the missing foreign tax credit to the best of my approximation, and the $2500 bonus. You think it’s safe to be able to estimate the missing foreign tax credit versus the bonus? The bonus is more concrete
However, for those of us whose 1099-div seems correct, we’ve received no announcement that a corrected 1099 is coming. Are we sure they are going to reissue 1099’s for everyone? Had this been announced public ally anywhere? Id rather not have to amend my taxes if I file and end up getting a new 1099 that has some slightly different numbers (for example for 199a etc) than what is reported now.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Waiting prevents the need to amend. I was replying to the person with the FT issue, and I have a div issue. I can't speak to the bonus issue, no need to wait for that one, I suppose.need403bhelp wrote: ↑Sat Mar 25, 2023 7:15 pmObviously one should report the bonus whether or not they send out a corrected 1099-misc.nalor511 wrote: ↑Sat Mar 25, 2023 6:13 pmI would wait, personallybbrock wrote: ↑Sat Mar 25, 2023 6:04 pm I keep checking in with them about this. They tell me each week they hope to send it out soon, they hope to send it out soon. Blah blah blah. I have already input in TurboTax, the missing foreign tax credit to the best of my approximation, and the $2500 bonus. You think it’s safe to be able to estimate the missing foreign tax credit versus the bonus? The bonus is more concrete
However, for those of us whose 1099-div seems correct, we’ve received no announcement that a corrected 1099 is coming. Are we sure they are going to reissue 1099’s for everyone? Had this been announced public ally anywhere? Id rather not have to amend my taxes if I file and end up getting a new 1099 that has some slightly different numbers (for example for 199a etc) than what is reported now.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Got it nalor. Thx.nalor511 wrote: ↑Sat Mar 25, 2023 6:13 pmI would wait, personallybbrock wrote: ↑Sat Mar 25, 2023 6:04 pm I keep checking in with them about this. They tell me each week they hope to send it out soon, they hope to send it out soon. Blah blah blah. I have already input in TurboTax, the missing foreign tax credit to the best of my approximation, and the $2500 bonus. You think it’s safe to be able to estimate the missing foreign tax credit versus the bonus? The bonus is more concrete
bbrock
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
You stated your own answer… obviously wait if you don’t care to amend.need403bhelp wrote: ↑Sat Mar 25, 2023 7:15 pmObviously one should report the bonus whether or not they send out a corrected 1099-misc.nalor511 wrote: ↑Sat Mar 25, 2023 6:13 pmI would wait, personallybbrock wrote: ↑Sat Mar 25, 2023 6:04 pm I keep checking in with them about this. They tell me each week they hope to send it out soon, they hope to send it out soon. Blah blah blah. I have already input in TurboTax, the missing foreign tax credit to the best of my approximation, and the $2500 bonus. You think it’s safe to be able to estimate the missing foreign tax credit versus the bonus? The bonus is more concrete
However, for those of us whose 1099-div seems correct, we’ve received no announcement that a corrected 1099 is coming. Are we sure they are going to reissue 1099’s for everyone? Had this been announced public ally anywhere? Id rather not have to amend my taxes if I file and end up getting a new 1099 that has some slightly different numbers (for example for 199a etc) than what is reported now.
bbrock
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Fair enough. Thank youbbrock wrote: ↑Sun Mar 26, 2023 11:45 amYou stated your own answer… obviously wait if you don’t care to amend.need403bhelp wrote: ↑Sat Mar 25, 2023 7:15 pmObviously one should report the bonus whether or not they send out a corrected 1099-misc.nalor511 wrote: ↑Sat Mar 25, 2023 6:13 pmI would wait, personallybbrock wrote: ↑Sat Mar 25, 2023 6:04 pm I keep checking in with them about this. They tell me each week they hope to send it out soon, they hope to send it out soon. Blah blah blah. I have already input in TurboTax, the missing foreign tax credit to the best of my approximation, and the $2500 bonus. You think it’s safe to be able to estimate the missing foreign tax credit versus the bonus? The bonus is more concrete
However, for those of us whose 1099-div seems correct, we’ve received no announcement that a corrected 1099 is coming. Are we sure they are going to reissue 1099’s for everyone? Had this been announced public ally anywhere? Id rather not have to amend my taxes if I file and end up getting a new 1099 that has some slightly different numbers (for example for 199a etc) than what is reported now.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Heads up I can finally see my revised 1099 in the Public app as of an hour ago.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Mine is too. They added the $3 free partial share of stock to the 1099. I hope the IRS doesn't care that I omitted it.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Great. Thanks for the update. I’ll go check for mine.
Amend:
Looks like I was off by $0.01 in my estimation for foreign tax paid. However, I am the unfortunate candidate of a 1099 that is still in error (… seriously Public/Apex ). It’s missing $1500 of the paid bonus.
bbrock
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I did not see any errors on my 1099-div and looks like still only the Feb 10th 1099 is the only one showing in my app.bbrock wrote: ↑Sun Mar 26, 2023 8:21 pmGreat. Thanks for the update. I’ll go check for mine.
Amend:
Looks like I was off by $0.01 in my estimation for foreign tax paid. However, I am the unfortunate candidate of a 1099 that is still in error (… seriously Public/Apex ). It’s missing $1500 of the paid bonus.
I know TastyWorks also did not report their bonus last year on a 1099-misc. not sure why.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I got a separate 1099-Misc for the Tastyworks bonus for 2022.need403bhelp wrote: ↑Sat Mar 25, 2023 3:11 pm
For the 1099-MISC, are you talking about not including the value of the bonus or something else? It appears that ?TastyWorks also did not include their bonus in their 1099-MISC last year...
People say nothing is impossible. I do nothing all day.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
If I can’t get them to fix this error, definitely going to self report, the full bonusneed403bhelp wrote: ↑Sun Mar 26, 2023 8:38 pmI did not see any errors on my 1099-div and looks like still only the Feb 10th 1099 is the only one showing in my app.bbrock wrote: ↑Sun Mar 26, 2023 8:21 pmGreat. Thanks for the update. I’ll go check for mine.
Amend:
Looks like I was off by $0.01 in my estimation for foreign tax paid. However, I am the unfortunate candidate of a 1099 that is still in error (… seriously Public/Apex ). It’s missing $1500 of the paid bonus.
I know TastyWorks also did not report their bonus last year on a 1099-misc. not sure why.
bbrock
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- Posts: 1636
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Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Sorry to clarify my TastyWorks bonus was in 2021 and no 1099-misc. however it was less than $600 so I think they technically don’t have to file oneBuddyJet wrote: ↑Sun Mar 26, 2023 8:41 pmI got a separate 1099-Misc for the Tastyworks bonus for 2022.need403bhelp wrote: ↑Sat Mar 25, 2023 3:11 pm
For the 1099-MISC, are you talking about not including the value of the bonus or something else? It appears that ?TastyWorks also did not include their bonus in their 1099-MISC last year...
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I also got my updated 1099 on Sunday with the full bonus as 1099-MISC income. At least mine looks like the foreign tax is correct now. Finally filed my taxes.
And I suppose it's time to look for another transfer bonus
And I suppose it's time to look for another transfer bonus
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
Public apparently sent another corrected 1099, which has $6.00 worth of free stock instead of $3.00. They only gave me $3.00.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I just received notification from them about a new corrected 1099 as well, they've incorrectly doubled the amount of free stock under the 1099-MISC section for me. They give everyone free stock when they sign up so if this is a widespread issue I imagine they're going to have a lot of angry people who filed already messaging/calling them asking what the hell is going on Monday. I logged a ticket with their support about it requesting them to re-re-correct it.
People on DoctorofCredit are starting to report that they received the same thing, revised 1099 with the free stock incorrectly doubled under the 1099-MISC section.
People on DoctorofCredit are starting to report that they received the same thing, revised 1099 with the free stock incorrectly doubled under the 1099-MISC section.
Re: Heads up - public.com says they've flubbed their 1099's [made a mistake]
I also just received the incorrect second corrected form with the extra 3 dollars of misc income. I filed my tax return already, as soon as I got the first corrected form, which as far as I can tell was indeed correct.