Mar
19
2013

  Two Heads, 2.5 Hours

We got our sitter in this morning, and T and I sat down to try to track down those differences in the brokerage accounts so I could finish the taxes.

We couldn't trace them down.

Since in both instances, the amount reported on the tax forms showed our income as higher than the cash balances confirmed, our best guess is that there were some disallowed losses from wash sales that did not get realized in 2013, but carried over to 2013. There are too many transactions for us to bother confirming this. We'll just pay the tax on the extra income and hope it evens out over time.

Taxes really shouldn't be this difficult. The entire income tax code has become corrupted over the years by both special interests and misguided social programming. I'm in favor of a progressive consumption tax. Just pay your tax in dribs and drabs each time you make a purchase, and you never have to go through an annual exercise in futility.