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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121596  
Subject: Re: Tax ?...rolling options Date: 3/20/2012 6:25 PM
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BUT .. noticed on the import that *most* (non-options) were Box 'B' even though basis is on *my* 1099
ie, my 1099 shows stock and fund sales... dates, proceeds & basis for each, but for only a few was basis reported to IRS --and i see no way to distinguish from the 1099


With stock sales it's a bit more difficult. While the 1099-B for sales where the broker isn't required to report cost basis (type B) probably shouldn't have the cost basis info, some brokers are reporting it on the paper statements to account holders and noting in the footnotes that they are not providing this info to the IRS. It would be much "cleaner" if they only reported the required info in the official 1099-B section and saved the extra info that they know (and that the taxpayer needs to complete his return) for the supplemental statements.

Ira
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