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less4success

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« on: January 11, 2017, 08:45:57 AM »
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« Last Edit: October 21, 2019, 01:52:18 PM by less4success »

SeattleCPA

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Re: Cost basis discrepancies for covered mutual fund shares
« Reply #1 on: January 11, 2017, 11:06:11 AM »
It's pretty common for the 1099-Bs to require you to make adjustments. So if the Vanguard statement is wrong or incomplete, you can adjust.

The way you do this is via the Form 8949. As a compulsive linker, here's address for the actual form instructions:

https://www.irs.gov/pub/irs-pdf/i8949.pdf

You want to make sure you have your facts straight and your accounting right on this. I would assume those adjustments bump your audit risk.