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 Do I Have to Sign a T1080 Form 2012

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how many of you receive a tax form don't even open it and just give it to your tax preparer well you should stop that especially if you receive a 1099 B tax form for your brokerage account so this tax season I want you to open that statement evaluate the form I want you to specifically look at your cost basis meaning the day that you purchase the stock or crypto most common error that I see is that the field is blank or zero and what happens if it's blank it converts to zero dollars is your cost basis meaning you pay taxes on the full amount of the sales price if you find this error contact your brokerage firm and let them know that this needs to be corrected ASAP do this before filing your tax return or else you can end up paying significant amount in capital gains tax

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