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Level 1
February 19, 2022
Solved

I sold stock and the forms indicate the basis was sent to IRS, but basis is wrong. The basis should when my wife died. Can I change the form?

Basis reported to IRS was 2006, but wife solely owned stock and died in 2010.
Hal_Al
Hal_AlAnswer
Level 15
February 19, 2022

Q.  Can I change the form?

A. No.  There is a procedure for this. Enter the 1099-B exactly as received. A couple of screens later will be "Select any less common adjustments that apply".

Check "The cost basis on my statement is incorrect".

You will be given a box to enter the correct cost basis. 

TurboTax puts code "B" in column (f) of form 8949 and the basis adjustment in column (g). 

1 reply

Hal_Al
Level 15
Hal_AlLevel 15Answer
Level 15
February 19, 2022

Q.  Can I change the form?

A. No.  There is a procedure for this. Enter the 1099-B exactly as received. A couple of screens later will be "Select any less common adjustments that apply".

Check "The cost basis on my statement is incorrect".

You will be given a box to enter the correct cost basis. 

TurboTax puts code "B" in column (f) of form 8949 and the basis adjustment in column (g).