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DeluxeXL t1_jdtz0bg wrote

Reply to comment by curbside319 in Fixing a basis mistake made in prior years on tax by curbside319

>Can I do the above and then also submit my 2022 taxes in parallel given that now I know that my 2021 basis was $5500 and that unblocks me from finishing up my 2022 taxes?

Yes.

>Also just curious do you think I'm in for a sizable IRS penalty based on the error?

No idea. Pay the tax you can calculate and wait for the late bill.

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