Your broker's 1099-B probably did not report the basis of the trade to the IRS (code B or E on the 1099). In that case, just change 5000 to 4903 directly on the form. No code needed.
If they in fact reported the incorrect amount to the IRS (code A or D), which would be unusual, then you'd want to open the Capital Gain (Loss) Adjustments Worksheet (in form mode) and in Part III check off "Form 1099-B reports an incorrect basis" and enter the correct amount there. Note that you don't need to do this in the case where they didn't report your basis, because They didn't report your basis, so there's nothing to correct.
Also note that there is probably a way to do this through the interview as well, but I'm only familiar with the Forms approach.
**Say "Thanks" by clicking the thumb icon in a post
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
