I received a 1099B from a UK based brokerage for foreign stock sales after I had filed. I originally reported the income as no 1099 received. The 1099 I received used a currency conversion rate based on the US Treasury 12/31 rate. In filing, I used the actual rate the broker reported to me when they converted the proceeds from UK to US currency and wired the proceeds to my US account. There is now a discrepancy of $2050 approx due to the different coversion rates between the number I reported as proceeds and the number on the 1099. I believe I should file a 1040X to report the 1099B and reconcile the 1099B gross proceeds number to the actual funds I received based on the actual currency conversion rate used. My question is how to actually do this? I reported the original transaction as 16 sales because there were different acquistion dates - there was only one sale. All acquistion dates were older than one year so all long term. Can I do this as summary in one line or should I modify each line? Other steps I should take? I'm in California should I also file a state amended return. I don't believe this changes my actual income at all but I assume this could trigger a matching error when the post filing 1099 hits the IRS computers. Thanks in advance for any advice.
