I had some RSUs/ and ESPP from previous employer. Recently the company got acquired and the RSU/ESPP stocks are settled in Cash & Stock settlement. That is 50% is settled in cash 50% is settled as a converted stock from new employer. Even though this transaction was all correct, the financial where I have the stock plan account didn't include my actual cost basis in the 1099-B. I am suppose to have loss on the amount settled in cash but as the financial institution is showing my cost zero in the 1099B, I am suppose to pay tax now for this amount. What is my options ? I am not very hopeful to get any help from financial institution as they are saying it is a problem from my older employer and My older employer is not responding to my query in this regard. What is my options now ? Shall I manually calculate everything as per the actual cost basis ? Or I should go with the amounts mentioned in 1099B. Kindly give some guidance on this
If you can determine the correct cost basis, you should adjust the cost basis reported on your Forms 1099-B to the correct cost basis. You will see an option for this when you enter your Form 1099-B sales information in TurboTax:
Once you indicate that you need to adjust the cost basis, you will see an option to enter the adjusted cost basis: