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posted Jun 4, 2019 9:37:57 PM

Can I provide the cost basis for the sales reported as unknown by Fidelity?

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Level 1
Jun 4, 2019 9:37:59 PM

Yes. It is common for stocks, particularly those owned for a long time, to not have their basis included on the broker's 1099. 

There are many reasons why the cost basis is unreported or does not match the number provided by broker, so this is not a red flag at all to the IRS. 

1 Replies
Level 1
Jun 4, 2019 9:37:59 PM

Yes. It is common for stocks, particularly those owned for a long time, to not have their basis included on the broker's 1099. 

There are many reasons why the cost basis is unreported or does not match the number provided by broker, so this is not a red flag at all to the IRS.