You enter the form 1099-B in TurboTax to record the investment sale. You may need to adjust the cost basis to add the income reported on your W-2 form that is from the stock sale. You should enter the 1099-B form as it is stated, and then there is an option to change the cost basis as is necessary. Your W-2 form will report any ordinary gain associated with the employee stock as wages in box 1, and that may need to be added to the cost basis on the form 1099-B if it reports the cost of the stock without compensating for the amout of that cost reported on your W-2 form.
- Choose the Federal option on your left menu bar
- Choose Wages & Income
- Choose the Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) option
- Choose the Stocks, Bonds, Mutual Funds option
- Enter your Form 1099-B information and check the box that says "The cost basis is incorrect or missing on my 1099-B" and you will see an option later to enter the correct cost basis
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