1099B total proceeds is less than adjusted cost basis

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Got really confused with 1099-B form. Some details:

- RSUs which got sold to cover vest taxes (sell to cover)
- Short term noncovered
- 1099B form shows
Total proceeds=6792.25
Cost basis=0.00

I've also received a stock supplemental document where

- Total proceeds=6792.25
- Cost basis=0.00
- Adjusted amount (Ordinary income)=6808.62
- Adjusted Cost Basis=6808.62
- Adjusted Gain (Loss) = 16.37 -> shown as positive number there

Now in turbotax, when I do enter all this data, specifically '6808.62' as adjusted cost basis, I'm getting a negative '-16.37' total loss.

No errors. Investment has been added. But is it correct? Anything I'm missing?

TurboTax Premier Online

ThomasM125Answer

Alumni - Intuit

It sounds correct. You enter the adjusted cost basis after you enter your Form 1099-B, when you check the box that says My cost basis is incorrect or missing on my 1099-B.

It sounds like you did that and ended up with a loss of $16.30. This is probably correct, as you acquired the stock and sold it some time later, so the sale price may have been less than what you bought the stock for.

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ThomasM125Answer

Alumni - Intuit

It sounds correct. You enter the adjusted cost basis after you enter your Form 1099-B, when you check the box that says My cost basis is incorrect or missing on my 1099-B.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"