MarilynG1
Expert Alumni

Investors & landlords

I don't think your tax increasing is related to changing your Cost Basis from $0 to the correct amount.  When you have a Cost Basis other than $0, your gains should go down, so if anything your tax should go down also.  For example, if your cost basis is $0 and proceeds are $10, you have a gain of $10.  If you have a cost basis of $5, and your proceeds are $10, you only have a gain of $5. 

 

Since you imported this info, you should delete your import and combine all these types of transactions into a one-line manual entry, and avoid all the editing.  Here's How to Enter a Summary in Lieu of Individual Transactions. Editing imported transactions can be problematic. 

 

If you're using TurboTax Online, clear your Cache and Cookies after deleting the import and re-entering a manual summary.

 

@ragsns 

 

 

 

 

 

 

 

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