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What is later? Cost basis on your 1099-B may be $0. Or, you may have received a $0 value from your import. Keep it at $0 for now. We’ll help you adjust the value later.

The imported 1099-B says review is needed and there are 100  RSU trades where review is needed (most likely because cost basis is wrong for all of them). How do I get past it and also do this adjustment "later" ? I do not want to brush past them and then come back later if there is no "later" option. The later option should have been closer to the trade review option only
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2 Replies
FangxiaL
Expert Alumni

What is later? Cost basis on your 1099-B may be $0. Or, you may have received a $0 value from your import. Keep it at $0 for now. We’ll help you adjust the value later.

Make the adjustments to the cost basis while you are at the screen. Check the box The cost basis is incorrect or missing on my 1099B below Box 1e on the screen when you enter your sale transactions.

 

You can always come back to the 1099-B to edit it and make the adjustments "later".

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What is later? Cost basis on your 1099-B may be $0. Or, you may have received a $0 value from your import. Keep it at $0 for now. We’ll help you adjust the value later.

Thank you for the guidance that adjusted cost should be entered AT THE TIME THE 1099-B information is entered...  It is a quite concerning that the help box says we'll come back to that later - and indeed, TURBOTAX DOES NOT COME BACK TO THIS ENTRY AREA.  As feedback - the Turboxtax program itself should notate this (your Cost basis was imported as a zero) and IMMEDIATELY instruct the user to locate the supplemental data (in the same document packet as the 1099-B) to make the appropriate changes...

 

In my situation, I noticed this - and felt it was not correct.  After consulting 2 tax/finance professionals, a financial advisor, AND the brokerage account that sent the 1099-B with the Cost basis as a zero - they had all indicated that I should enter the cost basis.

 

 

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