Providing adjusted cost basis for stock sales broken in 2020 for ESPP type. TurboTax still uses the 1099-B reported cost basis. Amount should appear in form 8949

[taxpaul]

This worked fine last year. Seems to be busted for 2020. The cost basis adjustment is required to offset the ESPP employee discount that I have to report as compensation income

[Cold in MN]

The ESPP step-by-step doesn't work.  Reports cost basis of $0.  TT Premium for Windows.  

[taxpaul]

I'm using Web 2020 TurboTax Premier. Sad to hear that the Windows local version also doesn't work for ESPP.

I had the same ESPP sales in 2019 and it did work fine. I can see that form 8949 shows the cost basis adjustment for ESPP purchases to represent the compensation income discount. It shows as code O in column (f) and the amount in column (g). These show blank in the 2020 edition. The compensation income also worked in 2019 but in 2020 it doesn't work if I use the TurboTax cost basis wizard, that part does work in 2020 if I enter the data myself and skip the cost basis wizard.

Paul

[I Hate How Taxes Are Complicated]

Also hitting the same issue on Turbo Tax Premier Desktop (windows)

[PSE52]

I'm having the same issue.  How do you enter futures gains/losses in for 8949?

[taxpaul]

Linking another thread on the same issue where someone had called in a reported this to TurboTax.

Re: TurboTax 2020 refuses to correct cost basis fo... (intuit.com)

Paul

[taxAlan]

I have the same problem using TT 2020 Premier download version for my desktop computer.  I contacted TT (on 2/15/2021) and they confirmed that it is a software bug and they had no work-around.  It has now been 20 days and they keep promising a software update.  Really sad they can't fix bugs faster. 

[taxpaul]

Sharing my experience from today 3/6/2021. TurboTax Web 2020 appears to have fixed the original bug I had with long term held ESPP stock sale, additional compensation income, and correctly populating form 8949 with the cost basis adjustments. It worked for me just now if I let them calculate it from form 3922 data. I can see the additional compensation added and the adjusted cost basis. Still doesn't seem to work if I tell them I want to enter it myself.

[Cold in MN]

TT Premier for Windows step-by-step appears to be working now.  

[JoshB1]

But non step-by-step (which should be more accurate) is still not fixed - its not generating the 8949 and still using the cost basis reported by 1099b - keep reporting issues here: https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-espp-rsu-issues-on...