topic My 1099-b is gross so doesn't have expenses subtracted - I don't see a place to enter those in TT? in Deductions & credits

My 1099-b is gross so doesn't have expenses subtracted - I don't see a place to enter those in TT?

jpershke-gmail-c — Mon, 22 Mar 2021 13:04:18 GMT

Re: My 1099-b is gross so doesn't have expenses subtracted - I don't see a place to enter those i...

KathrynG3 — Mon, 22 Mar 2021 13:38:55 GMT

To edit Form 1099-B in TurboTax, return to the original entry and click Edit next to the transaction.

After a few screens, you will see Review your sales. Click the pencil icon next to the sale to edit.

Scroll down to the bottom of the next screen. There is an opportunity here to make changes to the cost basis, but select Continue.

The next screen is: Let us know if any of these situations apply to this sale, and include the option: I paid sales expenses that aren't included in the sale proceeds reported on the form.

When this box is checked, a box appears that you can enter the amount for: Sales expenses not reported on Form 1099-B.

For general information, see; Where do I enter a 1099-B?

Re: My 1099-b is gross so doesn't have expenses subtracted - I don't see a place to enter those i...

jpershke-gmail-c — Sun, 28 Mar 2021 18:05:29 GMT

I don't see what you are talking about....all I have is to select "cost basis is incorrect or missing on my 1099-b and then it basically just asks me to put it in again.

Re: My 1099-b is gross so doesn't have expenses subtracted - I don't see a place to enter those i...

JohnB5677 — Mon, 29 Mar 2021 13:27:51 GMT

If you have a stock that has additional expenses that were not included in the cost basis, those expenses can be entered.

Open (continue) your return if it isn't already open.
Income & Expenses
Scroll to Stocks, Mutual Funds, Bonds, Other
Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
- If you see Here's the info we have for these investment sales, select Add More Sales.
Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
At Let's get your tax info, choose how you want to enter your 1099-B (type it in yourself)
Select Edit next to the transaction that you want.
Complete the information on screen Now we’ll walk you through entering your sale details Continue
The next screen will show Let us know if any of these situations apply to this sale
Select
I paid sales expenses that aren't included in the sale proceeds reported on the form Learn more

Enter the additional expense here.

Sales expenses are for any sales expenses you paid that were not already subtracted from the gross sale proceeds to get the amount of sale proceeds (reported in Box 1d if you have a 1099-B form).

Sales expenses aren't common for stocks and other securities (for securities, sales expenses are usually already subtracted from the gross proceeds to get the amount reported in 1d).