Hi,
Just want to be clear on the cost basis I report on the 8949
What you paid originally, should be the same as what is on 8949,
11,623.50
Then there is a column on the sales schedule that says cumulative adjustment to basis. If it’s positive add it to the original cost. If it’s negative subtract the amount
Cumulative Adjustment to basis = 1741
Finally add the amount of ordinary income reported above.
This one, is 210? box 8?
So cost basis should be 11,623.50 plus 1741plus 210 = 13574.5?
//sorry i had to use plus there i think turbo tax thought it was a social or something and 'removed it'
This makes sense to me, just want to confirm I have it right.
Since the sale proceeds I see in etrade already capture $217.49 of the gains, if I don't add the 210, it seems like I'm being taxed twice on it.
Thanks for your replies!
