Hi! I got a CP2501 notice from IRS saying that my 2020 tax return was missing some stock sales from UBS, one of the brokerages I used. The IRS CP2501 notice shows the proceeds but completely neglects the cost basis. It looks like the IRS doesn't know what the cost basis is (I think UBS didn't report the cost basis to the IRS, just the the total proceeds from the sale). According to the IRS CP2501 notice:
"if you have cost basis for the stock transactions in question, send us a completed Schedule D along with a completed Form 8949 (or similar attachment) showing the following for each listed stock transaction: asset name, date you acquired the asset, cost or adjusted basis."
Here is where I'm confused: Do I send a Form 8949 and Schedule D that show ONLY the stock transactions associated with this UBS brokerage? OR, do I send an updated Form 8949 and Schedule D that include all the transactions I made in 2020, which would therefore include ones I made through another brokerage Merrill (the Merrill transactions were already correctly submitted with my original tax return filing via the Schedule D and Form 8949, and they're not being questioned by the CP2501 notice). I don't want to confuse the IRS, I just want them to know the cost basis for the UBS transactions when they consider the tax implication for those.
Thanks for any guidance on this!
