I am seeing something new. 4 LEAP (options contracts) sold short with proceeds of $4,795.76. Some time later these options were repurchased for $180.23 (the basis). So gain of $4,615.53. Fidelity reports like the option expired worthless after being sold for $4,615.53. So proceeds of the gain and basis of zero.
While the gain matches if I leave it as reported haven't I misstated the basis? I thought this could extend the statute of limitations but seems that might only be overstating the basis.
I am pretty sure I have seen Fidelity report transaction like this correctly in the past.
I see in 1099-B instructions there is mention of short sales and checking box 5 and omitting some information. I can't make much sense of that though.