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Get your taxes done using TurboTax
I'm somewhere in the middle. For the form 8949 "Box E" transactions (Long-term, basis not reported), there is no adjustment in column (g), but the cost basis in column (e) shows the adjusted amount, so the numbers all work out in the end. The worksheets feeding into form 8949 look correct. The other form 8949 transactions (Box A, B, etc.) look correct, with the original cost basis in column (e) and the correct adjustment in column (g).
The IRS might not like the original cost basis in form 8949 not matching the 1099-B that they received, so this will still require some overriding in TurboTax. But at least the actual tax is now being calculated correctly.
‎February 27, 2021
2:01 PM