RaifH
Expert Alumni

Investors & landlords

A. Yes, you should put in the value Fidelity reports as the cost basis on 1099-B in box 1e

C. You do want to adjust this amount to the amount as reported in the supplemental information. The reason for the adjustment should be somewhere in the footnotes under letter e. 

 

If you are using TurboTax Premier Desktop, you would adjust it in the Select any less common adjustments that apply screen. Choose the applicable reason based on Fidelity's footnotes and enter the adjustment amount, which is the difference between the reported amount on 1099-B and the correct amount in the supplemental information.

 

In TurboTax Premier Online, you would select the box The cost basis is incorrect or missing on my 1099-B under Box 1e in the entry screen for this transaction. If you add sales expenses on the Let us know if any of these situations apply to this sale screen, you do not need to adjust the cost basis on the next screen, We noticed there's an issue with your cost basis. The adjustment has already been made for the sales expenses you added. If you selected None of these apply, then you will have to adjust your cost basis on this screen.