rjs
Level 15
Level 15

Investors & landlords

It depends on what "sales section" you select. The basis was probably not reported to the IRS, or at least you are entering it in TurboTax as basis not reported. TurboTax follows the IRS instructions for Form 8949. The instructions say to report the adjustment for code B as follows.

 

  • If basis was not reported to the IRS (box B or E is checked at the top of Form 8949), you do not enter an adjustment in column (g). You just enter the correct basis in column (e).
  • If basis was reported to the IRS (box A or D is checked at the top of Form 8949), you enter the adjustment in column (g).

 

When you select the sales section, if you select "Short-term basis reported to IRS" or "Long-term basis reported to IRS" TurboTax will enter the adjustment in column (g). But if basis was not reported to the IRS, TurboTax puts the correct basis in column (e) and zero in column (g), which is what the IRS instructions say to do.

 

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