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Get your taxes done using TurboTax
What is the type of Asset that was sold? The Cost Basis is generally what you originally paid for it.
According to the info you posted, you would multiply the Adjusted Cost Basis by the factor .02 to determine your 'Corrected Cost Basis'. Check the box on that page 'I need to adjust my cost basis' and then enter the calculated amount.
If you can give more info, we'll try to help.
Here's more detailed info on Cost Basis: Tracking Your Tax Basis.
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March 10, 2025
2:10 PM