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Level 2
posted Apr 2, 2020 2:17:40 PM

Accurately listing the sale of ASPP with only some of the cost basis presented to IRS.

I sold ASPP stock and when reporting it, Walmart only reported some of the cost basis (some of this stock has been held for over twenty years). Do I have to figure out a cost basis myself for the early shares or do I eat a $0 cost basis for them?

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1 Replies
Expert Alumni
Apr 5, 2020 1:01:59 PM

Prior to 2013 brokers did not have to keep track of basis; Therefor it became your responsibility to record it. This may help you get some idea of earlier values,  

MarketWatch Stock History

 

To correct the cost basis on stocks from a 1099-B

  1. Start at Investment income
  2. Select Stocks, Mutual Funds ....
  3. Choose the Broker or Institution
  4. Select the individual stock
  5. The data you entered will be there
  6. Toward the bottom of the screen select [I'll enter additional info on my own]
  7. In the entry for Box 2 enter Corrected Cost Basis