These monthly expenses show up on the 1099-B as Undetermined Term Transactions, with no acquired date or Cost Basis.
The Acquired Date must be retrieved from your records, and there is already a publicly available calculator to determine your cost basis for these trust expenses. My question is how do you enter this information properly into TT?
The "Cost or other basis" line item for the transaction is blank in TT and there is also a checkbox for "The cost basis is incorrect or missing on my 1099-B"
1 - Do you fill out the calculated Cost Basis (which is missing on the 1099-B) and check the box for cost basis is incorrect or missing?
2 - Do you leave the Cost Basis line empty (as it is on the 1099-B), check the box for cost basis is incorrect or missing, and then go to the next section and adjust the actual cost basis when asked by TT?
