My 30shrs & 100 shrs of GLV were combined at 1...
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moroboro2002
New Member

My 30shrs & 100 shrs of GLV were combined at 10.85/share but brkr left the cost basis empty. When I fill in the cost basis it all appeared as loss. Shld I leave it blank?

Turbo tax keeps making me fill in the cost basis and if I do it shows I lost all capital when actually have a gain $$. Should I just follow the way Charles Schwab filled up the form and ignore the warnings from TurboTax?
3 Replies
Critter
Level 15

My 30shrs & 100 shrs of GLV were combined at 10.85/share but brkr left the cost basis empty. When I fill in the cost basis it all appeared as loss. Shld I leave it blank?

 
Critter
Level 15

My 30shrs & 100 shrs of GLV were combined at 10.85/share but brkr left the cost basis empty. When I fill in the cost basis it all appeared as loss. Shld I leave it blank?

If the broker did not have a cost basis on the 1099-B then of course it would have shown a gain ... so if you enter the correct basis you may have a loss.  That is not a bad thing.  You are supposed to enter the missing information. 

fanfare
Level 15

My 30shrs & 100 shrs of GLV were combined at 10.85/share but brkr left the cost basis empty. When I fill in the cost basis it all appeared as loss. Shld I leave it blank?

the reporting requirements for your broker are not necessarily the reporting requirements for you, the Investor.

You must report according to the requirements of the Investor.

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