3 ms·
I've gotten 4 CP2000 over the years from RSU. Since they're non-covered shares, IRS gets data with a $0 basis. Some my fault (missed a page of 1099-B), some t
by dmoy 2y ago
I've gotten 4 CP2000 over the years from RSU. Since they're non-covered shares, IRS gets data with a $0 basis.
Some my fault (missed a page of 1099-B), some the broker's fault (missing one of two forms).
In every case you just send a cover letter with a couple sentences of prose explaining the error and a corrected form (8949, schedule B, whatever). Maybe a check if you still owe something. Or not, they will calculate and rebill you too. Maybe a copy of your 1099-B (I sent it 3 out of 4 times but forgot once, didn't make a difference)
It's slow as molasses, but the IRS is actually pretty damn reasonable about things.
- ghaff 2y agoThe whole cost basis thing used to be a real mess especially with acquisitions, spinoffs, and so forth. At one point when I was selling shares for a very long ago company from employee stock purchase and maybe old style options as well, I just came up with a reasonable average and called it a day. It’s generally easier today.
- dmoy 2y agoYea it's definitely easier now If only they'd go one step farther and make RSU be covered shares...