In snippet, error check:
I bought 52 shares MVO (MV Oil Trust) in Dec. 2015, holding ever since. Never sold a share to date.
In the snippet, error check for taxes for year 2020, it's asking for a cost basis. The software should know this is a dividend. Cost basis cannot be involved. Why is this like this?
This screen seems to indicate a 1099-B entry for a Stock Sale.
You are correct that you are not asked for Cost Basis for a 1099-DIV entry.
Click this link for info on How to Enter a 1099-DIV.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
"You are correct that you are not asked for Cost Basis for a 1099-DIV entry."
We ARE being asked for a Cost Basis - and it's Turbo software outstandingly doing this. Now, IF
I've this correctly in sight - that this is a div - I've sold no shares, can't be other - WHY is Turbo handling this as this? You're an expert. Is there a glitch? CAN the software be re-configured to handle these correctly, especially?
Especially, too, if you're an expert, detail the how's and why's of why it's currently working as we see - IF the argument goes it's supposed to be that way. Other than that, for the sake of reality, it'd be nice for Turbo to acknowledge a glitch, if this, so people can cautiously detour when they approach this road-washed out.