Hi @nexchap ,
thanks a lot for help!
In my case, if I have several USO transactions and reported as several sales in 8949 (per TurboTax, I cannot merge them), then, where to put "Cumulative Adjustments to Basis"? Can I add it to one of the sale item's cost basis only?
But this is very very confusing, actually, I have to split "Cumulative Adjustments to Basis" into two transactions because cost basis of each of transations is less than "Cumulative Adjustments to Basis" and corrected cost basis cannot be less than $1....
I am really worried that IRS won't figure it out and come to me later. :(
Another Q is:
Last year, USO merged 8 to 1. My case, say, I had 87 shares, so, 7 of them were not merged and my K-1 shows 0.875 shares (0.875 x 8 = 7) were sold on 04/28/2020. So, I only had 10 new shares after that.
But... I couldn't find such transaction in my broker account... And I don't remember (maybe, I missed it) if I got a form/money for that.
Question is: should I report this 0.875 share in 1099-B? If so, what's the cost per share ( 0 or original purchase price)?
thanks a billion!
======from TT===============
For sales that aren't identified as Box A or Box D sales, or that require adjustments, you have a choice to make. If you choose to enter summary totals for these sales, then you'll be required to mail in a statement with specific information about each individual sale. Otherwise, you can just enter each sale one at a time in TurboTax, and you won't have to mail anything in.
