257729
TurboTax keeps directing me back to the 1099-B, but I cannot complete it because there is no cost basis (says "unknown"). my 1099-B says transactions for the basis is not reported to the IRS and the term is unknown should be reported on Form 8949 or Schedule D, Part I or II, but I cannot access these forms.
You'll need to sign in or create an account to connect with an expert.
Form 8949 and Schedule D are automatically created in TurboTax when you enter your Investment Sale.
If you enter a Cost Basis as $0 (if you can't determine an amount), all the Sales Proceeds on your 1099-B are considered Capital Gain or Loss on Schedule D.
Here's are some tips to help you find your Cost Basis, whether you sold or inherited your stock:
https://ttlc.intuit.com/replies/3300454
Tips not showing in Link. How do I get to transactions to enter correct cost basis for unknown term transactions ?
Let me clarify. I have LP Stock transactions where the cost basis was unknown and i need to enter amount. Where do I enter cost basis from K1 and how do I get there ?
Were you able to get past this? If not, can you clarify your question even further? What cost basis do you have on your K1?
Make sure you have ran all updates.
If using TurboTax Online: Clear your cache and cookies. See this FAQ, for your particular browser.
If using TurboTax Desktop: Please see this FAQ.
If you still are not able to solve this, please call TurboTax Customer service. Here is a link: Turbo Tax Customer Service
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jack
New Member
TaxpayerNoDoubt
Level 1
anth_edwards
New Member
tcondon21
Returning Member
breanabooker15
New Member