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OT: Tax Time, Cost Basis (Broker Adjusted Cost Basis), etc.

FuzzyFreddy

Athletic Director
May 28, 2012
16,334
19,148
113
Every year about now, I can't understand why 1099's report cost basis differently than actual purchase cost, and it may be only bonds. For example if I bought 50 bonds and I paid 102 for them for an actual cost of $51,000, then why is the broker adjusted cost basis $50,000?

What is the logic (other than to increase taxes)?

@Jim14510 , others?
 
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