topic Why can't I override cost basis and date acquired for stocks sold? in Get your taxes done using TurboTax

Why can't I override cost basis and date acquired for stocks sold?

gensuki — Sun, 28 Mar 2021 20:51:05 GMT

I sold 3 stocks in 2020 which was in my Vanguard brokerage account. When I downloaded the transactions to TT, I noticed that the dates acquired and cost basis were wrong. These were classified as Box E so basis was not reported to the IRS. In that case, why can't I correct it? TT won't let me override it. It actually lets me override, but when I do the Smartcheck, it keeps coming up as an error.

The original stock (HP) I bought in 1997 and it has had many spinoffs so not surprising Vanguard couldn't keep it straight, but I have my own records and want to correct it. How do I do that?

Re: Why can't I override cost basis and date acquired for stocks sold?

LindseyLO — Mon, 29 Mar 2021 01:37:14 GMT

More guidance and assistance on your 1099-B has been provided by clicking here.

Re: Why can't I override cost basis and date acquired for stocks sold?

gensuki — Mon, 29 Mar 2021 02:11:07 GMT

Unfortunately this is not my problem. The information from Vanguard loaded correctly except the information from Vanguard is wrong and I want to override it. However, when I do override it and do SmartCheck, TT says I should not override it. This is not the same as the link you sent me which was about a blank date.

Re: Why can't I override cost basis and date acquired for stocks sold?

LindseyLO — Mon, 29 Mar 2021 02:19:42 GMT

Please contact TurboTax customer care so they can further assist you. Help with doing so has been provided by clicking here.

Re: Why can't I override cost basis and date acquired for stocks sold?

fanfare — Mon, 29 Mar 2021 03:17:50 GMT

;delete the record imported from Vanguard.

Enter your info from your own records manually.