Here is what I think I should do:
- Change “Description” to the name of the REIT
- Change the “Date Acquired” to 2011, it was 2018.
- Put the “Cost or Other Basis” at $19,416.13. I get this from the spreadsheet the REIT company sent me.
- I selected Box E – “Long term not reported” – because it is more than one year old, and not reported on the 1099-B.
- I have been paying tax on the distributions (actually only on the portion that was not reported as a return of capital) on Schedule-B each year, not sure how that works, or if it changes the Cost Basis.
Does this sound correct? absolutely correct. the distributions you received were either taxable (reported on Schedule B) and thus have no effect on your cost basis or return of capital which reduced your cost basis - you paid no taxes on them in the past. you've computed your revised cost so that's what you enter.
the only strange thing about what you show is that there are no ROC dividends in 2019. or 2020 (if you received any dividends those years)
