For a sale of employee stock, the Cost Basis when entering your 1099-B in TurboTax will almost always need to be adjusted. To help determine your correct cost basis, you need a Form 3922 that your employer issued when you exercised your option to purchase the shares. It shows the Exercise Price of the shares (unless you know that amount).
Depending on what type of employee stock you had, you may have received a % discount that was added to your W-2 as ordinary income (15% is common). This amount may be reported in Box 14. If that applies, divide that amount by the number of shares you exercised, and add it to the Exercise Price for a correct Cost Basis. If you have that information, you can enter your 1099-B as reported and check the box 'my cost basis is missing or incorrect'. On the next page, enter the correct basis.
If you don't have all the information, in the Stock Sales section, choose 'Employee Stock' and TurboTax helps you figure out your cost basis.
Here's more info on Employee Stock Purchase Plans.
@AlexSagrat
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
