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Form 1099-B shows in Box 1e, cost basis $0. All the proceeds are from an NUA rollover in 2019. Turbo tax is recommending that I review my cost basis. Do I need to ?
My choices are:
- I know my cost basis and need to make an adjustment
- I don't want to make any changes to my cost basis right
now.
Which answer should I choose?
- I know my cost basis and need to make an adjustment
- I don't want to make any changes to my cost basis right
now.
Which answer should I choose?
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April 17, 2021
12:33 AM
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Retirement tax questions
No, if you know for a fact that it is zero basis, then you would not make changes. The program is designed to be cautious.
April 17, 2021
12:59 PM