Hi all,
I've been quite confused about how to report my 1099-B. I imported them directly from Charles Schwab, but the date acquired is missing, and the cost basis for this security is "not provided." They are short-term transactions for which basis is missing and NOT REPORTED to the IRS. I reached out to my finance advisor, and he recommended to indicate the cost basis was the same as the proceeds, and the date acquired as various. These "bonds" were acquired before they were at Schwab, and they were inherited and then gifted to me (gifted this year, inherited years ago). I have no way of determining the cost basis at this point. Is my advisor's plan a good plan to follow? Or is there more I need to do?
Thanks in advance.
