@DNAmap You've got it right. The confusion comes from all the ways 'basis' gets used in these discussions: there's the basis used for calculating total gain, and then the basis entered onto the 1099-B after dealing with Ordinary Gain. But the way you've written it up is correct.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
