1099-B I got from Fidelity has fewer lots (sales, NQSO) than I see in the supplemental form with adjusted cost basis.
Basically I don't know cost basis for a few lots that are in supplemental form. Looks like some of those lots are summed up in 1099-B and cost basis is aggregated.
Can I just put $0 as a cost basis for individual lots while doing "Need Review" and put a checkbox "cost basis info is missing"? (while later putting an appropriate adjusted cost basis as needed).
When I use that checkbox (cost basis info is missing or incorrect) and specify the right "adjusted cost basis" I still get "Need Review"...
BTW, turbotax didn't autopopulate cost basis for any sale from Fidelity 1099-B, so I got 4 pages of entries to "Need Review"
I know this is an old post but did you ever figure this out?
How did you report it? I am in the same boat this year :(
Thanks so much,
Florian
no, sorry, I'm struggling to remember what I ended up doing. I remember it was quite time consuming. I guess I did what I described, went through a bunch of "need review" later on and put something (cost basis) meaningful in there.
If you have sales of stock acquired from the exercise of NQSOs, then I suggest you aggregate the sales lots and report them together. This will allow you to determine the overall cost basis, and report as a single amount per sales lot. If that differs from what is on the Form 1099-B, you can enter the difference as an adjustment to cost basis when you enter your sales. If you downloaded your Form 1099-B, you will have to delete it. You will also have to attach or mail to the IRS, your 1099-B or other supporting documentation for your sales.