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I sold some RSUs to cover college costs (unfortunately for a loss). There is no cost basis on my 1099-B form so I checked that it is missing and worked through the worksheet to figure it out. TurboTax shows the adjustment with what I think is correct, but also lists the cost basis as -0.13. This doesn’t seem right to me and also doesn’t allow me to e-file.
Anyone else see this? Is this incorrect?
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The cost basis could not be a negative number, so something must be wrong.
The cost basis of a restricted stock unit (RSU) would typically be the market price of the stock when it was vested, and that should have been reported on your W-2 form as wage income to you. If you included the value of the stock in your income upon vesting, then that would be the cost basis, which is often not reported on the form 1099-B.
You may be able to find the income reported on your W-2 or ask for a schedule from your employer.
When you enter your form 1099-B in TurboTax, you can list the cost basis as -0-, but then adjust it by clicking on the "I'll enter additional information on my own" box below the 1099-B entry screen. That will take you to a screen where you can enter the correct cost basis, and the difference will show up as an adjustment on your schedule D, capital gains and losses.
TurboTax is different this year. There is no “I’lol enter the info on my own” box. I check that the cost basis is missing and enter my sale data and turbo tax puts in a negative number in the cost basis field along with an adjustment number (which to me is the cost basis). Question is can I just s5 put this number in the cost basis field even though empty on my 1099-b?
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