Get your taxes done using TurboTax

Since the beginning of time - it seems like - this condition and the same erroneous message has existed in TurboTax.  I've seen dozens of these sort of posts over the years.

If the basis reported on the 1099-B is correct simply enter the amount of the liquidation distribution into "proceeds", as that's the correct handling of the situation.  The IRS will never make a peep about the "discrepancy" in proceeds.