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1099-B has fewer sale lots (NQSO) than supplemental form. Skip reporting cost basis?

1099-B I got from Fidelity has fewer lots (sales, NQSO) than I see in the supplemental form with adjusted cost basis.

 

Basically I don't know cost basis for a few lots that are in supplemental form. Looks like some of those lots are summed up in 1099-B and cost basis is aggregated.

 

Can I just put $0 as a cost basis for individual lots while doing "Need Review" and put a checkbox "cost basis info is missing"? (while later putting an appropriate adjusted cost basis as needed). 

 

When I use that checkbox (cost basis info is missing or incorrect) and specify the right "adjusted cost basis" I still get "Need Review"...

 

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BTW, turbotax didn't autopopulate cost basis for any sale from Fidelity 1099-B, so I got 4 pages of entries to "Need Review"

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3 Replies

1099-B has fewer sale lots (NQSO) than supplemental form. Skip reporting cost basis?

I know this is an old post but did you ever figure this out? 

How did you report it? I am in the same boat this year :( 

 

Thanks so much,
Florian

1099-B has fewer sale lots (NQSO) than supplemental form. Skip reporting cost basis?

no, sorry, I'm struggling to remember what I ended up doing. I remember it was quite time consuming. I guess I did what I described, went through a bunch of "need review" later on and put something (cost basis) meaningful in there.

DavidD66
Expert Alumni

1099-B has fewer sale lots (NQSO) than supplemental form. Skip reporting cost basis?

If you have sales of stock acquired from the exercise of NQSOs, then I suggest you aggregate the sales lots and report them together.  This will allow you to determine the overall cost basis, and report as a single amount per sales lot.  If that differs from what is on the Form 1099-B, you can enter the difference as an adjustment to cost basis when you enter your sales. If you downloaded your Form 1099-B, you will have to delete it.  You will also have to attach or mail to the IRS, your 1099-B or other supporting documentation for your sales.   

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