@ReneV4 Thank you Just to clarify on why you said "You should make corrections using your records to avoid paying more taxes than you should."
The gain/loss and Date Sold(1c) from 1099-B are correct, but the Proceeds(1d), Cost Basis(1e), and Date Acquired (1a) are wrong. The said, it's not likely I need to pay more as gain/loss is correct (even though cost basis and proceeds are wrong), right?
I understand taking the "summarizing the sales section totals" approach means less work, but I actually prefer correcting individual options trades given I have only a few such trades. As I will keep trading records for those trades, I feel it's easier to refresh my memory if later I am lucky enough to be audited by IRS. Is there any drawback for correcting those individual trades directly?
BTW, my 1099-B (from Fidelity) has "Short-term transactions for which basis is reported to the IRS" and " Long-term transactions for which basis is reported to the IRS" with numbers in a table. I think those are the "Short-Term Covered: (Box A) Basis was reported to the IRS" and "Long-Term Covered: (Box D) Basis was reported to the IRS" you meant?
