CVR Tax Issue

MirrorTell17 — Wed, 08 Apr 2026 21:49:22 GMT

I’m trying to correctly report a stock-for-cash merger with a contingent value right (CVR) in TurboTax, where my broker did not include the CVR value in the 1099-B proceeds.

My facts:

Company: LAVA Therapeutics
6,000 shares
Acquired: 9/25/2025
Sold / merger date reported on 1099-B: 11/24/2025
1099-B proceeds: $6,240
1099-B cost basis: $9,506.40
Reported loss: $3,266.40

The merger consideration was $1.04 cash per share plus 1 CVR per share. I believe the CVR had some fair market value at closing, and Fidelity appears to have reported only the cash proceeds on the 1099-B.

If I use an estimated CVR FMV of $0.56 per share, that would add $3,360 of value, which would make my total amount realized $9,600 and turn the transaction into a small gain instead of a large loss.

My issue is that TurboTax only seems to let me adjust cost basis, not proceeds without deviating from what was reported on 1099-B

My questions:

In TurboTax, is the correct way to handle this by entering a corrected cost basis to reach the right gain/loss result, even though technically the missing amount relates to proceeds?
Or is there a way to make TurboTax show the adjustment properly on Form 8949 so the 1099-B proceeds still match the broker statement and the correction flows through column (g)?
Has anyone handled a cash + CVR merger like this in TurboTax before?

I want to make sure the final Form 8949 is consistent with IRS matching and doesn’t look like I’m just changing my 1099-B numbers arbitrarily.

Re: CVR Tax Issue

RobertB4444 — Mon, 13 Apr 2026 19:24:00 GMT

The IRS will match the proceeds to the 1099-B so you absolutely do not want to change that. Adjusting the basis is the way to go here. You can think of the CVR received as a reduction in the basis instead of part of the gain since that is how the IRS will treat it.

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CVR Tax Issue

Re: CVR Tax Issue