Very interesting. I went back to look at all my statements and activity on the account: Fidelity definitely used the smaller $0.000815/share figure you shared above from iShares for the shares I held in June for the 1099-B.
If you held it on the days mentioned, then this does apply to you. The change should be at the smaller value of $0.002674/share, not the larger $0.054186/share. As you hold IEMG at Fidelity, I'm curious which rate was used!
Likely there would be no notification at all. Just your basis silently changing. And 1099 tax forms might have a cryptic notation of something happening.
Specifically, on June 11, 2024, I held 176.147 shares. Looking at my activity order history, the total cost basis for those shares was recorded through trade orders as $9,589.94. But, the 1099-B shows the total cost basis as $9,590.08 when I sold those exact shares later, an increase of $0.14. The 1099-B has a supplemental section titled "Addition to Basis" which shows an increase of $0.14 happened on 6/17/24 (not the 6/11/24 date you've written above). Calculating with the smaller 0.000815 figure results in the same figure: 176.147 * 0.000815 = $0.14
Nothing on the monthly statements indicate any sort of cost basis adjustment took place.
Statistics: Posted by tixoboy — Sun Mar 02, 2025 1:52 am