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On my 1099-B, the "Date Acquired" and the "Cost or Other Basis" is wrong. Can I change this or does it need to match the 1099-B? It's showing a loss when that is wrong.
Fidelity put the date acquired as the date I transferred the stocks to them (1/7/16), but I had actually had since 10/6/94. With Fidelity using the wrong date acquired and calculating the wrong cost basis, they are reporting a loss to the IRS when it is actually a gain. I want to make sure I'm putting the correct information in there, but wondering if I need to contact Fidelity so that they can change it on their end too since they reported this to the IRS. Will I be flagged by the IRS if my information does not match the form, if I change it?
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May 16, 2021
4:41 PM