ThomasM125
Expert Alumni

Investors & landlords

You need to report the cost basis of assets sold, as that amount is used to determine your gain or loss on sale. If the entry is blank on your form 1099-B, that may mean the amount is $0, but it could also mean it was not entered because the broker did not know what the amount was. So you may want to do some investigation to determine what the actual cost basis was as it may reduce your capital gain.

 

To get past the error in TurboTax, you should enter $0 for the cost basis if that is what it is, rather than leave the entry blank. 

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