Cost basis adjustment missing?

[Sparky42]

I have downloaded my 1099B from my financial institution for 2023.  During the download there was never any question about adjusting for cost basis.  I see no opportunity to change this.  Is the only option this year to enter all the sales data manually from the beginning?  In all the years previously, I've never had to do that.

[ThomasM125]

I think you mean you downloaded your Form 1099-B into TurboTax but you need to adjust the cost basis on some of the investment sales. If so, you don't need to enter everything from scratch, you just need to edit those entries on which you need to adjust the cost basis. You can do this by entering into the Investment Income section and editing the entries in the Stock, Cryptocurrency, Mutual Funds, Bonds, other section.  

On the screen that says Review this (name of investment) qualifying sale check the box that says the cost basis is incorrect or missing on my form 1099-B. On another screen you will see an option to enter the correct cost basis.

[Sparky42]

Thanks for the reply.  I don't see an editor...

When I go to Investment Income and click "update" on Stocks, etc, I get the page attached which has only the total roll-up for each account.  Clicking on "continue" just takes me back to the "Investment Income" page.  Clicking "What if these numbers..." is just about round-off.  I can't seem to get to a page to edit details...
What to do?

Thanks again.

[Sparky42]

I should have replied to you instead of myself, I think.  Re-posting this reply from yesterday...

***

Thanks for the reply. I don't see a way of editing...

When I go to Investment Income and click "update" on Stocks, etc, I get the page attached which has only the total roll-up for each account. Clicking on "continue" just takes me back to the "Investment Income" page. Clicking "What if these numbers..." is just about round-off. I can't seem to get to a page to edit details...
What to do?

Thanks again.

[ThomasM125]

It may be something unique to the download of summary totals as opposed to individual investment sales. This is what I see when I manually entered summary totals, which has an edit icon. I assume you don't see an icon allowing you to edit the summary? It may have to do with the format the download is in as it comes from the broker.

[Sparky42]

Your reply contained a hint, I'm going to delete the document download and try again, but be more selective in which docs to bring over, not "all" (like the summary).  The brokerage download system is down today, but I will try this on Monday and report back... 

[Sparky42]

I tried a different brokerage and downloaded one 1099DIV form as a test.  But with that new brokerage and just one form, when I tried to "update" it at the Investment Income section, I got again a summary page (from all accounts) that looked like what I attached above.  There's no apparent way to drill back down into each brokerage account after downloading.  (I guess there's a fallback typing directly into the final forms, but I would rather not do that.)

There appears to be no way to edit data in the GUI after it has been downloaded from the brokerage.  Something new in my 15+ years using TT.  It's hard to believe others aren't seeing this and I'm trying to figure out what I'm doing differently.

[Sparky42]

I've re-clipped that window as it looks now, but showing something I didn't communicate before.  This window is fully maximized -- the truncation on the right is in the software.  The "needs review" on the right is NOT a button.  It's just part of an image.   Also, despite a new download of a single 1099DIV form, the brokerage institution is not even recognized on the left (though the $ value that I've hidden was correct.) 

This seems to be something in the GUI, and since it's desktop sw and not using a browser (just my Mac), where do I go from here? 

[Sparky42]

Note to TT --- this is still a problem, and I do not see any solution.  Direct download does not work with my Premier Mac desktop SW.   I can't go forward -- what to do????

[MonikaK1]

The Investment Sales Summary page in Mac does include an Edit button at the far right. If "Needs Review" appears, the edit button will be to the right of it.

To adjust the resolution on your screen, you could try the steps on this Apple Support page:

On your Mac, choose Apple menu > System Settings, then click Displays in the sidebar. (You may need to scroll down.) Select the display you want to adjust, then select the resolution you want to use. You may be able to turn on “Show all resolutions” to see additional resolutions for the display.

Depending on how you adjust the resolution, some app windows may not fit entirely on the screen. Using a scaled resolution may affect performance.

In the alternative, you could hook up a separate monitor to your Mac.

[Sparky42]

Thank for the reply, but resolution adjustment does not affect what I'm seeing. 

I started from scratch, creating a new return, and downloaded my financial data and here is what I see.  The continue button returns me to the top as I mentioned before.  The "adjust" on the side is not a button and does not go anywhere and just 0.00 numbers beneath it.   Changing screen resolution does nothing.

[DaveF1006]

it depends. The next best solution is to go to:

1. Federal
2. Wages and Income
3. Investment Income
4. Stocks, Bonds .....
5. Now you should see your Investment Sales Summary. Select the particular transaction that you wish to edit and select edit.
6. Now you may see a screen that says Review your XXXX Sales.  Select the pencil icon, if there.
7. Continue through the next couple of screens and you should see a screen that says We Notice you entered 0 as a cost basis, let us know if you need to make changes.
8. Here is how the screens should appear.

notice the edit button that should be there.

Select the pencil icon at the far right.

To get to this screen, you need to navigate twice after selecting the pencil icon in the second screen.

[Sparky42]

Dave, thanks for your answer.  However if you look at my replies you'll see that, despite my using a separate monitor at highest resolution, etc, the window gets truncated on the right. No buttons. There is no editable window at all.  (This happens even if I start from "scratch".)  That's all there is, there is no more.

I'm ready to try a fresh download of the desktop program.

[AmyC]

Since you have two monitors, have you tried stretching it across?  I end up pulling the right side over to the next monitor to get to some things. You will need to switch it so that it is not maximized but almost and then drag the right side over to the other screen.  

Also, sometimes I think the program is maximized but when I click the button the slightest changes will happen. I do move back and forth and stretch the program around a good bit 🙂

[Jackie NM]

My 1099B included the cost basis plus the net gain (or loss). I would check with your financial institution and ask why the information was omitted. If you get nowhere, it will probably take less time to hand enter the cost amounts than to argue with them. Annoying, to say the least!