Get your taxes done using TurboTax

You should manually enter the your 1099B and adjust your cost basis to reflect no gain. 

Because the brokerage firm has issued the 1099B, you should report the sales, but you need to alter your basis to avoid double taxation. There are many reasons for cost basis to be adjusted, so this is not a red flag to the IRS (whereas not reporting the sales would be). 

View solution in original post