I am anticipating significant differences between the basis reported by the broker on the 1099-B and to the IRS v. the real basis based on my records. My concern is based on information the broker provided at the time of the sale (online information, not a 1099-B).
How should I remedy the differences?
Should I: (a) request that the broker re-issue the 1099-B; or (b) simply disregard the 1099-B and report the correct basis on Sched D?
The reason I am asking now is: if #a is preferred or required, I would like to start that process now, hoping to get the broker's internal data corrected before the 1099-B is generated (and sent to the IRS).
I say "anticipating" because I have not yet completed my calculations. But I can see some obvious disparities already.
I don't know if the net differences are in my favor or not. But I prefer to report tax data correctly, regardless of who benefits.