I’m trying to correctly report a stock-for-cash merger with a contingent value right (CVR) in TurboTax, where my broker did not include the CVR value in the 1099-B proceeds.
My facts:
- Company: LAVA Therapeutics
- 6,000 shares
- Acquired: 9/25/2025
- Sold / merger date reported on 1099-B: 11/24/2025
- 1099-B proceeds: $6,240
- 1099-B cost basis: $9,506.40
- Reported loss: $3,266.40
The merger consideration was $1.04 cash per share plus 1 CVR per share. I believe the CVR had some fair market value at closing, and Fidelity appears to have reported only the cash proceeds on the 1099-B.
If I use an estimated CVR FMV of $0.56 per share, that would add $3,360 of value, which would make my total amount realized $9,600 and turn the transaction into a small gain instead of a large loss.
My issue is that TurboTax only seems to let me adjust cost basis, not proceeds without deviating from what was reported on 1099-B
My questions:
- In TurboTax, is the correct way to handle this by entering a corrected cost basis to reach the right gain/loss result, even though technically the missing amount relates to proceeds?
- Or is there a way to make TurboTax show the adjustment properly on Form 8949 so the 1099-B proceeds still match the broker statement and the correction flows through column (g)?
- Has anyone handled a cash + CVR merger like this in TurboTax before?
I want to make sure the final Form 8949 is consistent with IRS matching and doesn’t look like I’m just changing my 1099-B numbers arbitrarily.
