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Thanks for the reply and help.
I'm using TT Desktop Premier.
The IRS does allow making adjustments when the cost basis reported to it is incorrect. your adjustment amount is 22671-19613=3058. what you are doing is reducing the reported gain. thus the adjustment is entered as a negative amount to reduce the reported gain to 1139 (4197-3058).
to allocate the adjustment - number of share reported as sold on the line divided by total shares sold) times -3058. use adjustment code B which tells the IRS the tax basis reported is incorrect.
I can't make an adjustment if I go to the Forms but if I go to "Investment Income" under "Wages & Income", I can can view my imported 1099B and it appears I can modify it (there is an edit button).
Is this where I make the changes? see attached image below.
If so, I would like to understand if I can choose one of the line and add the cost basis by 3058 amount so that the gain/loss will be negative. If I add all of the gain/loss, it will still be 1139 as reported.
Example: if I pick the first line below and increase the cost basis by 3,058, so from $9,313.16 to $12,371.16. This will have a loss of -1,664.36 but adding all the gains up will be $1,139.
Am I understanding this correctly?
Also TT had already generated a copy 2 of 1099B (copy 1 being the original one with box A checked) based on the information I had entered as described in my original post.
Is this already an adjustment? that's the confusing part to me.
Thanks again for your help!
