Turbotax doesn't allow me to correct one single cost basis in an imported 1099-B nor does it allow me to delete only one imported account

[caljones2]

I received the complete picture of the cost basis and whether it is long/short from the 1099-K long after my brokerage sent me the tax documents (a month later). I had imported the Tax documents (1099-DIV, INT, B and MISC) for multiple accounts that we have with this very large brokerage. When TurboTax detected errors, it flagged some of these sales that didn't have the cost basis nor the period of holding, which now the 1099-Ks have. Most likely I declared them Short and cost basis as zero.

Now that I want to correct them, Turbo Tax is not allowing me to open up the forms in editable mode. The help next to the form says I should delete the import and reimport them. So, having resigned to this as the only solution, I went to delete the specific account that I had imported. NO!!! Looks like I have to delete the who import (all the accounts) from that brokerage and start over again. 

This sounds like a fairly poor all-or-nothing option. Is that right? Or is there another way?

Appreciate any suggestions...

Thanks in advance.

[JamesG1 · Accepted solution]

What version of TurboTax are you using?

In TurboTax Online, follow these steps to remove or edit an investment sale transaction.

• Down the left side of the screen, click on Federal.
• Down the left side of the screen, click on Wages & Income.
• Scroll down to Investments and Savings and click the down arrow to the right.
• Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
• At the screen Let's finish pulling in your investment income, click the down arrow to the right of the 1099-B investment.
• The Edit and delete trashcan become visible.
• To edit or delete an individual line within the IRS form 1099-B entry, select Edit.  Individual lines become available.  
•      Bulk Edit may be available by clicking the box to the left of the line.
•      The pencil icon is used for editing the line.
•      The trashcan delete icon is used to remove that line.

In TurboTax Desktop Premier version, follow these steps to remove or edit an investment sale transaction.

• Select Federal Taxes.
• Select  Wages & Income.
• Select I'll choose what I work on.
• Scroll down to Investment Income.
• Select Start / update to the right of Stocks, Mutual Funds, Bonds, Other.
• At the screen Your investment sales summary, the Edit button and delete trashcan are found to the right.

[caljones2]

Thanks JamesG1. Appreciate the detailed answer. Your answer is accurate. I struggled to get it to work for multiple reasons and needs to be corrected (poor UI design):

1. The edit and delete icons are on the extreme right and 

2. Once you locate them by scrolling to the right, you don't know which row you want to edit as the first few columns have the info and they have scrolled out of view (I hear that Intuit employs a lot of UI designers, really?)

3. Once I hit the edit icon, the screen gets highlighted and the prompt window to proceed pops up, but it is out of sight. So, as an user, I don't know that there is a prompt I need to respond to. Scroll up and you will see it. UI designer....

4. Since I couldn't wait to see your response, I called Tech Support line, and it was a very sad experience for two reasons - the support person hardly knew the product, second, the screen sharing wouldn't work reliably.

The tool is very easy to file for people with complex taxes, but the knowledge base, tech support and UI design needs improvement.

[alexoporto]

I follow your steps, except that I do not see a delete button. Part pf the page appears to be cropped.

[JamesG1]

Move the scroll bar at the bottom of the screen to view the entries to the right.