1099b I dont have form 8949 Asks me for cost basis I dont know what this is about. I recd a check for proceeds from broker/barter exchange What dont i understand?

[quam7531j]

Turbotax is asking for cost basis I recd a check last year What is that?

[JamesG1 · Accepted solution]

Cost basis is what you originally paid for the investment.  The difference between the selling price and the cost basis is the gain or loss that the tax return reports.

You may manually update the cost basis (and other details of the sale) by following these steps:

1. Down the left side of the screen, click Federal.
2. Down the left side of the screen, click Wages & Income.
3. Click the down arrow to the right of Investments and Savings.
4. Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
5. Click the down arrow to the right of the investment.
6. Click Edit.
7. Click the pencil icon to the right of the entry to be reviewed.
8. At the screen Review this XXX sale, update the entry.

IRS form 8949 may have been generated within your tax return.  In TurboTax Online, you may print or view your full tax returns prior to filing after you have paid for the software.

• View the entries down the left side of the screen at Tax Tools.
• Select Print Center.
• Select Print, save or preview this year's return.

[quam7531j]

This helped very much. Thank you.