RSU cost basis adjustment

[Baboozled]

I am (still) running into this as well, both for restricted stock, and ESPPs on Windows Home&Business.

[jeffd210]

I have the same issue as well. The tool (bought the Premier TurboTax to handle this specifically) states that I should not edit 1e at all. Quoting the tax guidance built in:

If you received a Form 1099-B (and in nearly all cases, you will), you should always start by entering the cost basis as reported on your 1099-B on line 1e, even if the basis on your 1099-B might be incorrect. Then look for a supplemental statement from your financial institution that shows the corrected basis. (IRS reporting rules require the institution to report the non-corrected basis on Form 1099-B, even though the institution usually knows the actual corrected basis amount.)

Since the expert's advice conflicts with the software, who do I believe? I will keep trying to get the software to adjust the cost basis, and leave box 1e at 0 as reported in my 1099-B.

[DSSS1234]

@Alex2021,Can you share the solution if it has been resolved? I completely agree with the problem.

[ljsister2024]

I met the similar situation in 2024, this time I entered the adjusted cost basis correctly, however, TT premium always shows the errors when it reviews the federal return, so I have to reentered the adjusted cost basis at the review stage, once the correction is done, TT shows that my cost basis becomes zero. (clearly changed my loss to gain, even with the corrected cost basis from e-trade supplement). Any way to fix this or just ignore the error messages from smart check? It's frustrated and time consuming that TT takes years but could not fix the same software errors. 

[jonmtran]

For TY2023, Leave the cost basis as imported from the 1099 even if it’s $0.  When you click next/continue, read the follow up questions asking if cost basis needs to be adjusted and enter the correct amount there.

[ThomasM125]

You will see an option to adjust the cost basis when you enter your stock sale in TurboTax:

@Ijsister2024