First of all, I’m not sure if this question is on topic for the forum or not. If it’s not, please feel free to delete it. Anyway, I am working on my taxes and I have a quick question. The 1099 my brokerage (Wells Fargo) sent me for 2016 indicated that there was a non dividend distribution of ~$800 for one of my funds (VIPSX). At the time, I made a note in my records and adjusted the basis for one of my lots to account for the $800. My intention was that when I finally sold that lot, I would use the adjusted basis.
In 2017 I made a few very small sell trades on the fund. Really, I was just cleaning up some reinvest divs off my balance sheet to make things neater. On the 1099 for 2017 that I just received I notice that the bases for each those trades is slightly less than what my records indicate. Further, in the ‘Additional Information’ column of each trade the 1099 includes a note which says ‘Original Basis: xx.xx’ where ‘xx.xx’ does in fact agree with my records.
So, I’m guessing what happened here is that Wells Fargo is spreading the ~$800 over all 25 or 30 trades in the fund and adjusting each basis by a small amount. My way (adjust a single trade) seems much cleaner and I’d like to file against those numbers. My question then is, will it cause me any problems if my numbers are slightly different than what Wells Fargo reports to the IRS? I would think not, but I have no practical experience with this stuff and trying to get into the mind of the government is sketchy business. I really don’t want to have to file an amended return over this.
Thanks in advance!