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turboatlich7243
New Member

Does TurboTax premier software calculate stock cost basis with reinvested dividends?

 
3 Replies
MarilynG1
Expert Alumni

Does TurboTax premier software calculate stock cost basis with reinvested dividends?

If you received a 1099-B for Stock Sales, and the broker is reporting a Cost Basis for shares sold, the Reinvested Dividends should be included in that basis amount.

 

If the broker is not reporting a Cost Basis for shares sold, you can add the total amount of Reinvested Dividends to the Original Cost and enter the correct Cost Basis in TurboTax.

 

Click this link for more detail about Reinvested Dividends and Cost Basis.

 

 

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azollett
Returning Member

Does TurboTax premier software calculate stock cost basis with reinvested dividends?

I have stocks and mutual funds that I sold this year, the cost basis I received does not include what I received in reinvested dividends and capital gains for more than 10 years. I have records of these transactions, where and how do I add them into Turbo tax. Turbo tax says not to alter Form 8949, if I add them as a negative in Schedule D, how to I show the individual transactions?

ThomasM125
Expert Alumni

Does TurboTax premier software calculate stock cost basis with reinvested dividends?

When you enter your form 1099-B in TurboTax, you will see an option "I'll enter additional information on my own." Click on that option and you can enter the correct cost basis for the investment you sold, and the difference between that amount and what is reported on your form 1099-B will show as an adjustment to the cost basis reported on form 8949.

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