I had stock in TIME and TimeWarner TWX (long history starting with purchase of NetScape NSCP in 1998). These got sold in 2018 and TWX was acquired by ATT.
The stock sales for TIME and TWX got reported in 4 categories on my 1099-B (TD Ameritrade):
I understand what covered (broker calculates and reports cost basis) and noncovered (they don't report cost basis means.
I have a spreadsheet showing every share purchase, reinvestment, split and spin-off going all the way back to the original NSCP purchase.
#1: I can duplicate the quantities they report for #1 Short-term covered by adding up the reinvestment share purchase quantities going back to the 6/16/2017 reinvestment purchase. For TIME, their reported cost basis matches my spreadsheet total of the cost of those shares going back to 6/16/2017. For TWX, their reported cost basis ($157.46) is much different that my calculation of the actual cost of those shares ($305.83).
#2: From that point on, it gets super murky. I can't duplicate their number of shares in the Long-term covered lots. Brokerages were supposed to start tracking cost basis on 1/1/2011 for stocks (or 1/1/2012 for stock reinvestment).
I didn't go any further since it seems totally off, so am wondering if anybody can point me in the right direction so I can get numbers to report for my Noncovered Lots in categories #3 and #4!
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Called the broker and they couldn't figure out the discrepancy either. Pending more analysis from another dept.
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