Vanguard Cost Basis Accounting Errors
I know there have been multiple reports of Vanguard making errors tracking cost basis using specific lot identification or first in first out and their general recalcitrance about complying with IRS regulations permitting taxpayers to use other than average cost basis accounting.
I can see how Vanguard might get lazy (although that’s not an excuse) with “uncovered” shares predating the IRS requirement for them to support other than average cost basis and to track and report cost basis using the method chosen by their customer.
Has anyone had problems with Vanguard accurately tracking FIFO or specific ID cost basis with covered shares (purchased after the IRS regulations changed in 2011)? If so were your problems with mutual funds or ETFs? Did you have both uncovered and covered shares of the same holding?
I didn’t find the right solution from the Internet.
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