ejfi24
New Member

Changing 1099-b Sale Category

Hello! I have a Robinhood 1099-B that it is a box A category. The form aggregated 9 transactions, however these were wash sales which cannot be aggregated per the IRS. The form also states "Total proceeds and cost reported to the IRS." Does this mean that the basis for the individual sales has not been reported, and that just the total basis has been reported? Does this mean that I need to change what the sales category is? 

 

Somewhat unrelated, but I also don't see where the cost basis could be coming from based on the date acquired. The two don't match up at all and Robinhood states they use FIFO but can FIFO and tax lots be used at the same time, leading to these different numbers? Based on this and the seemingly random dates (I don't understand the lot/aggregation thing so I'm sure they're not truly random) it seems like I wouldn't be able to rely on the 1099 at all. All of that said, I only actually sold stock 4 times in 2019, 2 limit sales and 2 market sales. It makes sense to me that the limit sales would be listed as multiple transactions, but again, the dates don't seem to line up and on the date of one of the market sales the 1099 lists 5 transactions. 

 

Edit: I'm trying to dig into this and the cost basis is at least making some sense. I understand that it's proceeds + the amount that is a wash (the whole loss in this case). Is this the cost basis that should be reported to the IRS though? It seems like they want to know the price I actually paid for the security, and the amount listed on the 1099 is not that.