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Retirement tax questions
Question A. - No, don't just pick any value. Use the value that was provided on the Supplemental Information provided by your broker. The Supplemental Information may not update everything on your 1099-B; however, it will provide updates for specific securities. Thus, use the Supplemental Information whenever it updates information on your 1099-B.
Question B. - Use the Supplemental Information because it provides the most up-to-date information. However, there may be information on your 1099-B that did not get updated by the Supplemental Information. In that case, just continue to use the 1099-B.
Question C. - If you decide to enter what is on your 1099-B, but you believe that the cost basis will need to be adjusted, then on the page where you enter your trade information, select the box The cost basis is incorrect or missing on my 1099-B. On the next page, you will have the option to adjust your cost basis.
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