When the option to Include Statement Explaining Differences and Adjustments Between Form 8949 and 1099-B is checked, the Form 8949 report menu will also show a checkbox option for There Are Other Errors On My 1099-B. This checkbox controls the related section on the statement produced with Form 8949 to explain differences and adjustments.
What is the purpose of this checkbox?
If you received one or more 1099-B reports that contain errors not already accounted for on the Statement Explaining Differences and Adjustments Between Form 8949 and 1099-B, this checkbox allows you to indicate these additional errors on that statement. Checking this box will result in the following section to be checked in the aforementioned statement:
o Other errors in 1099-B reporting: The taxpayer has found other errors in the 1099-B reporting provided by one or more brokers which may result in other differences or adjustments not referenced in this statement.
By indicating this section and including the statement in your IRS filing you provide further support for any differences between your Form 8949 and 1099-B reporting.
Note: You are responsible for reporting 1099-B errors to your broker for them to correct and provide an amended 1099-B if necessary.