bakshi6
New Member

How do I report Adjusted Cost Basis?

In 2017, I received an award of RSU and my employer selected the option to sell to cover. 399 units vested on 4/15/2018. My employer uses eTrade to manage awards. 

For my 2018 taxes, TurboTax imported my 2018 form 1099-B from eTrade (see below data) for vesting transaction but I think I may have made an error by entering a zero (0) in the field for "Cost or other basis" (box 1e). The 1099-B form listed proceeds of $1,037.44 and a zero (0) under "Cost or Other Basis". eTrade's Supplement  statement (which has more data about the sale, see below data) also lists a Cost Basis of zero (0) but there is an "Adjusted Cost Basis" column which lists $1,029.00.

I already filed, but I clicked the amend button and tried to change the amount in the "Cost or other basis" (box 1e) in TurboTax from zero (0) to $1,029.00 and it shows that I'm due an additional refund for both my federal and state returns. It also shows a gain of $8 (vs. $1,037.44), which is consistent with what is shown on eTrade's Supplement statement. So my question is, should I update the Adjusted Cost Basis in TurboTax from zero (0) to $1,029.00?

1099-B Form (short term, non-covered):

QTY Sold: 140

Date Acquired: 4/15

Date Sold (box 1c): 4/19

Proceeds (box 1d): $1,037.44

Cost Basis: $0.00

Gain/Loss Amount: $1,037.44

eTrade Supplement statement:

QTY: 140

Date Acquired: 4/15

Date Sold: 4/19

Proceeds: $1,037.44

Cost Basis: $0.00

Adjustment Amount: $1,029.00

Adjusted Cost Basis: $1,029.00

Adjusted Gain: $8.44