This week I received 1099-B of Baxalta that was spun-off from Baxter on 7/1/15. I dripped in Baxter from Sept'13 until Apr'15. I sold Baxalta shares in Mar'16, hence the 1099-B.
During the spin-off I received a share of Baxalta for each share of Baxter and used the company's provided method of allocating the cost basis between the two (55.2% for Baxter & 44.8% for Baxalta) as communicated here [investor.baxter.com
So, I just multiply the original cost of each purchase by 44.8% and that's my cost basis for Baxalta. Agree?
Well, Computershare shows that I sold at Loss when actually it was a small gain. I called to ask why half of the individual purchases show totally overstated cost basis vs. the other half that's reasonably correct (by my calculations) on the detail page. Customer rep submitted an inquiry to the back office, but she advised me to seek help from a tax adviser. I asked her how that tax adviser can help me if the info is wrong on 1099-B.
If I'm not issued a corrected 1099-B until after April 15 or if at all, can such a faulty 1099-B trigger an audit?
Should I choose the adjustment code B on Form 8949 and show the gain because I'm 99% positive I'm correct?
If I receive a corrected 1099-B after April 15, will I need to file an amended tax return just to show the new info of 1099-B but my calculation of the gain will not change?
Finally, what if I sold a stock but I don't receive a 1099-B at all or after April 15? Maybe postman delivers to the wrong place or something. The 1099-B isn't posted in my account either, but the phone message says it was mailed prior to 2/15/17. Nobody answers the phone either.
I just hope I don't need to do amended returns for Fed and State.