It’s showing zero, which shouldn’t
7 replies (most recent on top)
I guess I will just make cost basis adjustments myself if the 1099 turns out wrong. But wouldn’t that trigger audit because the etrade would report their 1099 to the irs?
Is cash reported as dividend in US?
Most innocent people will overpay taxes based on 1099
AND
will realize it years later in future.
52% makes sense since that is the portion of AVGO stock. The other 48% cost basis we would need in this year's tax returns for the cash we got I suppose?
Hope that cash is not showed as dividend, it should just be 'proceeds from sale' so we can apply the cost basis for each chunk.
yes, not uncommon for broker statements to have incorrect cost basis in their statements (esp. for RSUs), so we should fix that in the returns.
Great to find this info on this thread. Thanks. But under OSPS tab, the cost basis per share is 0. Are we supposed to calculate ourselves? So for each lot, 52% of the original shares would be the cost basis for that particular lot? So if Etrade has it wrong, we are allowed to ignore the 1099 and change it while filling taxes?
Good point, need to save history.
In ETrade, under Benefit History tab chose the "Download Expanded" dropdown - this downloads an Excel file with RSU, ESPP and OSPS (converted AVGO share amounts and dates that match RSU vesting) tabs, with details of each vesting transaction. It does not call out the explicit cost basis, which would be the "market value per share" - but that can be obtained by federal_taxable_value/vested_qty.
Either that, or you would have to download "Confirmation of Release" statement for each vesting transaction under each grant.
This is not actually a huge issue. Even if ETrade has it wrong you can provide a corrected cost basis for each lot sold when you file your taxes. Providing the cost basis correction will also correct the amount of capital gains and the tax owed for them.