JamesG1
Expert Alumni

Get your taxes done using TurboTax

Checking the box will inform the IRS that you are reporting a cost basis that is different from what was reported to the IRS by the issuer of the IRS form 1099-B.  

 

There are many valid reasons why this might be the case.

 

Retain the cost basis information with your income tax records should a tax authority have a question about the transaction at a later time.

 

@tpeters623 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"