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Can I adjust cost basis of remaining stock to correct for a cost reporting error on a prior sale?
I bought 400 shares of stock. When I sold 300 of the shares in 2004, I accidentally understated the cost and overstated the gain by $150 and paid too much tax. It is too late to file an amended return, but can I increase the cost basis of the remaining 100 shares by $150 to compensate for the error? I am using the FIFO cost basis method.
‎June 10, 2020
3:28 PM