- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Your basis probably isn't zero.
Cost basis = Purchase price (or price acquired) + Purchase fees.
To Adjust cost basis
TurboTax has made allowances to make this correction.
-
When posing in the Stock area there is a check box Under Box 1e -
-
Cost or other basis
-
Report the basis as it shows on the brokerage firm
-
-
Below that you will see
-
The cost basis is incorrect or missing on my 1099‑B
-
Check this box and .. Continue
-
-
Let us know if any of these situations apply to this sale
-
None of these apply .. Continue
-
-
We noticed there's an issue with your cost basis...Let us know if you'd like to make any changes
-
I know my cost basis and need to make an adjustment
-
Enter the adjusted amount
-
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 6, 2022
6:48 AM