We need you to clarify some information. If your stock was transferred to Fidelity from Raymond James, and the transfer included your original basis, then your 1099-B should reflect your original basis. However, if Fidelity did not know the basis for your stock, then your 1099-B may reflect the basis as zero.
In either situation, if an adjustment needs to be made to the basis, then begin the process to make the adjustment by going to Investment and Savings (TurboTax online). Then follow these steps:
- Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
- If you have already entered some investments, then select Add investments.
- You can import your tax info on the screen that gives you that option or you can choose Enter a different way. If you select Enter a different way, then select the investment type--which in your case would be Stocks, Bonds, Mutual Funds.
- Continue through the application, and when you get to the screen Now, enter one sale on your [Name of Brokerage] 1099-B, scroll down and check the box indicating that The cost basis is incorrect or missing on my 1099-B.
- Continue through the application. At the screen We noticed there's an issue with your cost basis...Let us know if you'd like to make changes, check the appropriate box and enter your information.
@leviton11
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