- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My adjusted cost basis is not being retained on my ESPP sale
Using TurboTax Premier. My 1099-B that I received for my ESPP stock sales has the main part with the original cost basis, and a supplement that has the adjusted cost basis. I entered the 1099-B as-is (incorrect cost basis) then followed the prompts for "yes this is an ESPP", and entered in the adjusted cost basis and amount reported as income on my W2 that is in the supplement. It says it updates, but the Tax Due never adjusts, and the net gain/loss shown in the summary is the unadjusted amount. Is this a bug?
I also went through the "guide me" that uses the 3922 form, but that ends up saying the cost basis is $0 (though it never actually adjusts the summary). I've done this every year for many years and never had an issue. My gain (qualifying/disqualifying disposition gain) is already on my W2 income, so I don't want to get double-taxed.
Can I just skip all the extra steps and put the correct cost basis in at the beginning?