eTrade have reported the wrong lot in 1099-B for fractional share based on OSPS quantities

[hickeng]

@pratiks19

In my case, the fractional share acquired date shows as 08/01/2023 in the 1099-B and sale is short term non covered (RSU), but looking at the OSPS lots "Acquired Qty" and "Sellable Qty" in etrade it looks like the fractional share came from the oldest lot from 05/01/2018, which should be long term non covered (RSU). Since there is a discrepancy, which one should I go with ?

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[hickeng]

How did you identify the oldest lot as the one it came from? I'd double check, and then I'd call eTrade and see if they can get you a corrected 1099-B. They're not issuing updates for cost-basis, but this seems like a literal data error on their part.

There's various corrections allowed between 1099-B and Form 8949, but what you do if the core info is wrong... 🤷.

If you cannot get through to eTrade or get a corrected form from them, personally I'd make the change to the data in TurboTax or whatever prep tool you use and make a note as to why in case you need to explain it to the IRS. Personally I've been preferring reporting the correct reality of what happened over what's stated to have happened in forms (eg. the fractional sale value vs the value it was suppose to be in f8937). But I'm not a tax professional!