Possi Posted March 20, 2018 Report Share Posted March 20, 2018 What is going on this year with these 1099B's? The reported basis is right up front, then in the back pages, we have "adjusted basis" that is not reported to IRS. The basis has been increased for different reasons, by the issuer. I'm looking at the 8949 codes for (f) adjustments, and I think "E" would be applicable here. "You received a Form 1099-B or 1099-S (or substitute statement) for a transaction and there are selling expenses or option premiums that aren't reflected on the form or statement by an adjustment to either the proceeds or basis shown" I have never seen this before and now I see 3! Quote Link to comment Share on other sites More sharing options...
Roberts Posted March 20, 2018 Report Share Posted March 20, 2018 Many 1099's that I've done show $0 cost basis on their non-reported sales but then disclose the cost basis that is in their records on other pages. For example I brought in a bunch of securities for a client and provided a cost basis. Those ended up as E's on their 1099 with the cost basis noted. I've notice the last few years it is VERY rare that someone doesn't have something for a cost basis on the 1099. 4 Quote Link to comment Share on other sites More sharing options...
Catherine Posted March 21, 2018 Report Share Posted March 21, 2018 Stock options often come with basis adjustments in the supplementary pages, too. 1 Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted March 21, 2018 Report Share Posted March 21, 2018 And even some of those basis are not correct. 2 Quote Link to comment Share on other sites More sharing options...
Catherine Posted March 21, 2018 Report Share Posted March 21, 2018 20 hours ago, TAXMAN said: And even some of those basis are not correct. True! -- Cross-check against the W2. Quote Link to comment Share on other sites More sharing options...
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