cost basis adjustment

Forum|Forum|4 years ago
April 17, 2022
1 reply
5 views

I have a stock sale with a reported cost basis.

I need to change the cost basis to zero.

I check the box for "The cost basis on my statement is incorrect"

I input a cost of 0.00 and value is accepted but ultimately turbotax premier includes the original reported cost basis in all calculations.

If the cost basis is not reported and I change it to a value in using the "cost basis is incorrect box" it works....

bosso3

Level 7

I'm not an expert, but you could try entering $1.00. That may function differently than zero, and would likely have little effect on your taxes owed.

BruskiAuthor

Level 2

Hi Bosso3,

Thanks for your answer.

I just tried that and it does work.

I also found that if I use the "An adjustment is required for a reason not already covered" box instead of the "cost basis is incorrect" box and enter the same reported value as a positive number the system makes the adjustment to zero.

cost basis adjustment

1 reply

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