Hi all,
So I sold 20 shares of a stock back in August 2016 and on the 1099-B from Scottrade, one of the transactions (for 6 shares of the stock) is classified "Undetermined term transactions for noncovered tax lots" (it says the Basis was not provided to the IRS). The thing is, I can go onto my Scottrade transaction history and see the stock was purchased back in 2007 and the cost basis/what I paid shows for that date. The remaining 14 shares were purchased in 2014 and are correctly reported.
What is the process for 'correcting' this basis? Do I need to report "E" for long-term transaction where basis was not reported to IRS and then do something else? Or can I just report D and enter the cost basis from the transaction history amount?