Missed RSU basis reporting change - should I amend?

I just discovered that Fidelity changed the way that they report my restricted stock unit (RSU) sales in 2014. For 2013 (the 1099-B issued in early 2014), included the cost basis of the shares that were vested and sold. For 2014, the basis was not reported.

I didn't catch this, so I checked the "basis is reported to the IRS" box in TaxAct. TaxAct dutifully reported my small gain on line 1a of schedule D and did not generate form 8949.

The question is whether I should go ahead and file an amended return, or should I wait and only act if I'm contacted by the IRS?

Reply to
Ian Pilcher
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I would probably wait for the IRS letter, if it ever comes. The document matching process might not trigger a letter if the difference is less than the unknown minimum threshold. If it does generate a letter, you can respond with the relevant information. The agent handling your letter response is unlikely to look at anything other than the matter raised in the letter. If you file an amended return, you will guarantee that the return is looked at by a human who may discover something else to question.

Ira Smilovitz

Reply to
ira smilovitz

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