Form 1099-B Worksheet (National Financial Services LLC): Cost or Adjusted Basis (Positive Amounts Only) must be entered. Where do I find this value?

[Mike9241]

you apparently imported the 1099-B info.  apparently the cost basis for one or more is blank. Turbotax doesn't like this. a cost even if $0 must be entered.   

[golfer1john]

The cost basis on the 1099 is not blank, it is zero, which is correct for a short option that expired worthless.

When will this be fixed?

[hipruthvi]

I had the same issue. Taking help from TT expert didn't help much but on the review page, when you click the Fix button, you get the form 8949 on next page. On top of that page you see a text box for Adjustment of cost basis. Enter 0 in this box and continue. This will make your error disappear without making any change to your tax refund/due amount. You will also notice that your entries for the proceeds and cost basis remains as is as it was before entering 0. So I really don't know what it does internally, but lets the weird error disappear. I already spent 4 hrs to fix the issue. Don't want you to spend more time on this.

Good Luck!

Raj

[golfer1john]

Me, too.  Many hours, many entries.   Almost a minute between clicks.  I just put in a zero and finally it said I was finished.  Very difficult to know if it was doing a lot of them, or the same one over and over.  And no way to know if I have now lied to the IRS, except that nothing else on the return changed because of this.  I still think the bug is that TT can't tell a blank from a zero. 

[tamoul]

If you skip the import from brokerage and go to type yourself, you get asked if you have 4+ sales to report. Select yes and you can enter just the sub-totals for each section - short term covered/short term non-covered/etc. No need to enter and adjust every single sale - IRS anyways cares only about these sub-totals.

[golfer1john]

Then don't you have to send the IRS your 1099s, too?  As if you had more than 2000 sales?

And is this not fixed yet?  Now I've got corrected 1099s and have to file an amended return.