Get your taxes done using TurboTax
Here are the steps to make that nominee adjustment
You may want to delete the 1099-B you started and begin over
Wages & Income
Investment Income
Stocks, Cryptocurrency, Mutual Funds, Bonds, Other START
Select "Stocks, Bonds, Mutual Funds"
Continue
Skip Import
Complete the "Which bank or brokerage is on your 1099-B?" screen and continue
Click through the questions if necessary to get to the screen-
NOW CHOOSE HOW TO ENTER YOUR SALES
Be sure to select "Sales section totals" and Continue
On the "Now, enter one sales total on this 1099-B" screen -
Enter the Sales section (type of Capital Gain), Proceeds and Cost
CHECK THE BOX FOR "I need to adjust my total cost basis"
A drop-down list appears with adjustment codes
Scroll down and Select N (nominee for actual owner of property)
Enter the amount of the gain as a negative number or the amount of the loss as a positive number
Continue
The following screen should show 0 gain/Loss
You will need to mail a copy of the 1099-B with Form 8453 with or without your return (the 1040 return may be e-filed).
Here are instruction on mailing Form 8453 with your 1099-B
