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Should I correct my cost basis on 1099-B from Blockfi for intest payments?
I had money in a GUSD/gemini account earning interest in gemini stable coins at Blockfi - The 1099-B I got from blockfi is reporting the basis for those interest payments equal to the interest payments meaning no shortterm capital gains reports. Should I correct that gain (adjust my total cost basis in turbotax) with a code B (cost basis incorrect on form) or report that interest income under miscellaneous income? Does it matter in terms of audit/irs review (feels like correcting the 1099-B would flag some sort of review so I'm tempted to leave it and add the interest to a MISC income?).
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March 12, 2023
8:26 AM