This is code section that is referred to in your message:
(a) In general. The value of stocks and bonds is the fair market value per share or bond on the applicable valuation date.
(b) Based on selling prices."
In other words, Comparative sales. TurboTax doesn't offer any alternative for the method to determine the value because that is the method that is required by the IRS.
Whoever filled in your Form 8283 simply cited the Treasury regulation, rather than list the method description that the IRS recognizes on Form 8283.
According to the IRS instruction for Form 8283, "Column (i). Enter the method(s) you used to determine the FMV. Examples of entries to make include “Appraisal,” “Thrift shop value” (for clothing or household items), “Catalog” (for stamp or coin collections), or “Comparable sales” (for real estate and other kinds of assets)."
At any rate, the only way to force TurboTax to accept a description other than one listed above is to override the entry in Forms, This can only be done in Desktop (the download version of TurboTax). If you override the entry, you will not be able to e-file.
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