My 1099-B shows cost basis as 0 and I don't have a supplemental form showing the adjusted cost basis. Do I need to manually calculate?

bretdnixon · ‎April 9, 2023

fanfare · ‎April 9, 2023

you are expected to report the true cost basis.

IRS will accept zero as your cost basis.

TeresaM · ‎April 10, 2023

Yes, you should calculate and report the correct basis. When you enter your Form 1099-B, enter is as written but be sure to check the box for The cost basis is incorrect or missing on my 1099‑B.

Then, in a few screens, select I know my cost basis and need to make an adjustment and report the correct basis.

@bretdnixon

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

My 1099-B shows cost basis as 0 and I don't have a supplemental form showing the adjusted cost basis. Do I need to manually calculate?