My 1099-B says I lost about $200 but Turbo Tax thinks I gained $5000. There are several trades with $0 cost basis because they are short sales. How do I fix this ?

[DavidD66 · Accepted solution]

When entering short sales the Date Opened is the date you sold the borrowed stock, and the Date Closed is the date you purchased the stock to close the position.   Your Proceeds are the amount you received when you opened the position (sold it short) and your cost basis is the amount you paid to close the position (buy back the stock).  If the cost to close the position is not reported on your Form 1099-B you will have to get from your trade confirms or account statements.  They might be reported as supplemental information in your 1099-Consolidated reporting package..