Hello,
My cost basis on 1099-B is missing for a stock that spun off a division. The cost basis is missing on the 1099-B because it was not provided by the brokerage since it was purchased before 2011.
If the cost basis is accidentally calculated incorrectly:
1. What are the implications of that from an IRS perspective?
2. Are you more likely to be audited?
3. How would the IRS know if a cost basis is incorrectly calculated?
