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?
02603
2 Replies
Critter
Level 15
Jun 14, 2020 4:55:26 PM
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
Jun 15, 2020 1:25:06 PM
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.