Once you have started the amendment process, select
I need to change (amend) my return for a different reason as your reason for amending. Then select Personal Income. Once you have selected the
Personal Income option, follow the steps below to change your cost basis:
1. Enter
the 1099 as is then
2.
Click Add More Details or Edit
3. Select
the option "I'll enter additional info on my own" (or
just click Continue if the "on my own" button isn't
present)
4. Scroll
to "Corrected cost basis"
5. Enter
the correct basis (in most cases the same as your "Proceeds")
6. Click Done
Tip: Don't confuse boxes A, B, D, E, and X on
your TurboTax screen with the 1a, 1b, 1c (etc.) boxes on your 1099-B form.
These are two completely different things.
Boxes A, B, D, E, and X often appear as headers or section
titles on your 1099-B form instead of literal boxes. Exact wording
varies between brokerages; for example, Box A from 3 different brokerage
statements might read:
·
Short-term transactions for which basis is reported to the IRS—report on Form
8949 with Box A checked.
·
Short-term transactions for which basis is reported to the IRS--report on Form
8949, Part I, with Box A checked.
·
Short-term transactions for which basis is reported to the IRS—report on Form
8949 with Box A checked and/or Schedule D, Part I.
Nevertheless, they all mention Box A, so
you'd check Box A in TurboTax and the next screen will open the 1a–1g boxes
which correspond to your 1099-B form. Boxes B, D, E, and X work the same way.
