@Themushj wrote:
The only loose end is I don't know if they will adjust the one cost basis of the stock I sold prior to this recent adjustment for tax purposes. That stock no longer shows up on my statements obviously, but I am wondering what Merrill will report to the IRS as the cost basis for that single stock.
I don't want to press my luck on them to be willing to give me a new trade confirmation statement reflecting the new cost basis.
You don't need a new trade confirmation. If your 1099-B at the end of the year shows the correct cost basis for the stock that you sold earlier, the trade confirmation doesn't matter. If the 1099-B does not show the correct cost basis, you can enter an adjustment on your tax return to correct the basis. The adjustment will be shown on Form 8949 with adjustment code B. See the details in Mike9241's earlier post above. Adjustment code B simply means that the basis shown on the 1099-B is incorrect. If the IRS has a routine way to report it, it must be a pretty common situation.
