Thanks for the feedback. I think I get it. To make sure I do, the only thing I should take from the "Sales Schedule" that came with K1 is column 5 (adjustment to basis). Ignore their corrected cost basis. Simply use their adjustment to adjust the cost basis that is reported on 1099-B (which agrees with my records). Is that correct?
Assuming you say yes, here is the next question specific to how TT handles my adjustment....I make the adjustment by editing the specific trade, checking the box (Cost basis in my statement is incorrect) and then provide a new cost basis in the box that appears. I have noticed that on form 8949, the adjusted cost basis shows up in column e, but the net adjustment shows up as 0 in column g. In short, all is good except that the IRS person my think that I made zero adjustment and then flag the new cost basis as an error because it is different from what is in 1099-B! Is there a way to get TT to report the actual $ adjustment to the cost basis?
Thanks again....
