Cost basis reporting when fractional shares were transfered to Vanguard ?

I had 31.655 shares of DUKE Energy first batch aquired on 7/2/09 14.74 sh.in a DRIP transfered to Vanguard on 8/13/13. DUKE gave me a check of $46.37 at $70.692 sh price for the .655 sh.and transfered 31 sh to Vanguard. On 10/22/13 I sold the 31 sh. at $72.00 from VG account total $2225.00 minus $7.00 fee. My origional total cost including reinvested dividends is $1618.02 including the fractional sh..Also there was a 3/1 rev stock split on 7/2/12. VG has date aquired 8/13/13 cost basis 0. For the fractional share reporting: .655 partial sh. DUK Date aquired 7/2/09 Cost: $14.74 x 3 for rev. stock split =$44.22 x .655 =$28.96 Date sold: 8/13/13 Proceeds: fractional share check $46.37 LT Capital Gain: $17.41

For the 31 sh. sold reporting:(all shares were long term including reinvested dividends)

31 sh. DUK Date aquired: various Cost: $1618.02 minus $28.96 for .655 frac. sh. cost $1589.06 Date sold:10/22/13 Proceeds: 31 sh. x $72.00 minus $7.00 broker fee $2225.00 LT capital gain: $635.94

The problem that I see is since Vanguard has Date aquired of 8/13/13 at a cost basis of 0, will they report that to the IRS. I am sure Duke Energy has reported the "Covered Shares" to the IRS. I have all my origional cost basis from Duke Energy DRIP before the transfer. Will I need to put in "Code B", basis reported was incorrect on form 1099-B? Or is there an easier way report this on my schedule-D and 8949, such as just put the fractional share at 0 cost, and just total everything up on the

31 sh. sale including the fractional share cost, pay a couple of dollars more tax, and then go fishing?
Reply to
Jim Hayes
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If this were my personal account, I'd go fishing.

There's just not enough money to do all the work to separate out the long term and short term amounts attributable to the fractional share.

And if you came to me to do the work, I'd answer the same way.

Reply to
Arthur Kamlet

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