I sold all units of a royalty trust this year.
I am already familiar with the things that need to be entered on Schedule E - income, taxes, and expenses - and I have made those entries. But since I have never sold units of the trust before, I am confused about the "adjusted basis" information which the depletion calculator also provides me.
On the print out provided by the calculator, I see a total "adjusted basis" for every year that I owned the trust (2018-2022): these numbers appear next to the depletion amounts for the same years.
The cost basis imported from my broker is my original basis, and so that is what I have in Turbotax right now. I would like to confirm: should I manually change my cost basis in Turbotax to the "adjusted basis" which the depletion calculator provides for 2022?
