Incorrect form cp2000

jpwiggo — Sat, 02 Jan 2021 19:12:41 GMT

I got a CP2000 yet I think the IRS messed up.  It's for some stock sales in 2018.   On the CP2000 there are the two columns "shown on return" and "reported by others."    I'm thinking that "shown on return" is my reported proceeds (sales price)  and "reported by others" is the proceeds as reported by my broker.

I just went to my form 8949, and see that my "Proceeds"  and "cost basis" are reported correctly in the 8949.

The IRS is using  the information I reported as "Cost basis"  for the amounts in "shown on return"      They should be using "proceeds" - right?



I'm I correct in assuming that they should be using "Proceeds" and NOT "Cost Basis"

Re: Incorrect form cp2000

Mike9241 — Sat, 02 Jan 2021 19:30:07 GMT

we can't see anything you mentioned. the IRS does make mistakes. review the 1099-B from the broker to make sure the mistake wasn't yours and that schedule D reported the correct sales proceeds cost and any adjustments. if your schedule is correct send the notice back with a letter of explanation and a copy of the 1099-B pointing out the sales proceeds, costs, and adjustments as shown on the 1099-B agree with the Schedule D filed with your return.

Something like Dear Madam or Sir enclosed is ............ you will see that the 1099-B enclosed agrees with what was reported on schedule D. therefore, I request you change your records accordingly to show I owe no additional taxes. penalties or interest

sign and date the letter. send ASAP since the USPS is also behind in deliveries or use some other service. whatever service you use make sure you get proof of delivery. sadly it could be months before you hear back.

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Incorrect form cp2000

Re: Incorrect form cp2000