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JAAA4
Returning Member

Entering correct cost basis on Form 8949

TT Premier is not allowing me to enter the correct cost basis on form 8949 after it was populated with the incorrect cost basis from the 1099-B. How do I edit this form to change it to the correct cost basis?

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1 Reply
ThomasM125
Expert Alumni

Entering correct cost basis on Form 8949

You need to look for the option to adjust the cost basis when you enter the investment sale in TurboTax:

 

 Choose the Federal option on your left menu bar

  1. Choose Wages & Income
  2. Choose the Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) option
  3. Choose the Stocks, Bonds, Mutual Funds option
  4. Enter your Form 1099-B information and check the box  that says "The cost basis is incorrect or missing on my 1099-B" and you will see an option later to enter the correct cost basis
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