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Retirement tax questions
You mentioned also the basis as a check. Given that the brokerages on their summary of 2020 Proceeds only report the basis of covered securities and not of non-covered securities (For instance, securities bought before 1/1/2012), it is not likely that the IRS computer is checking the total reported basis. For the proceeds, however, the proceeds of both securities are reported and, as such, is an easy check.
‎February 15, 2021
8:40 AM