1099-DA Issue with cost basis, is this something to worry about? Do I need to refile 8849 again with correct check boxes?
I have been working with TAS via my congressman from May 1st and originally I had W2G and my 1099-R that weren't showing up and after TAS requested these and sending the same to TAS everything is showing up correctly of 5 weeks ago, but the refund is still stuck in 971 code.
Latest response I received from Congressman on my refund status as of last Thursday:
👀 I have reviewed the documents and believe they are sufficient along with the previously provided W2-G supporting documents. I have gone ahead and submitted my request to have the refund released. I will let you know if I receive any kind of pushback from the operating division. I will follow up again no later than July 21
I double checked all my wage transcripts and realized that my tax CPA didn't check the Digital asset transactions check box but when he calculated the aggregate losses and reported corrected losses, even if IRS considers these as proceeds, this will not affect my refund amt as losses in trading were more than this amount. Schedule D lines 2 and 3 were blank, and the digital-assets question on the 1040 was marked "No." Do I need to do anything related to this by sending an updated 8849 form to my TAS contact or just hold on to IRS to determine and issue a refund and refile the 8849.. I haven't got anything related to this from TAS advocate yet, but this is bugging me on the back of mind that this might be the holding issue for the IRS operations team.. Any one faced similar situation and any thoughts on next course of action here?
