How do I report 2 cost bases from an NUA sale if my 1099-B only shows 1

[blesna1]

I have a question about entering a 1099-B in TurboTax, for a company stock sale associated with a Fidelity 401k NUA transfer.

Background

• I rolled 1000 shares from my 401k into a brokerage account on 11/24/24
• The 401k cost basis for the shares was $28, so I paid ordinary income tax on the $28,000 gain
• The market value of the shares on 11/24/24 was $414, so the NUA spread is $386/share
• I sold 200 of those shares on 6/11/25 for $475/share

I was told by Fidelity if I sell shares at a gain within 1 year (before 11/24/25), the gain between $28 and $414 will be taxed as LTCG, and above $414 will be taxed as STCG. And after 1 year all sales will be taxed at LTCG.

So I assumed the $95,000 6/11/25 sale would be taxed $77,200 (200 * $386) as LTCG, and $12,200 (200 * $61) as STCG.

Question
How do I enter a tiered/split cost basis in TurboTax if the 1099-B is showing the entire $89,400 gain as STCG?

[RobertB4444 · Accepted solution]

You will have to enter it as two separate transactions with two different purchase dates and identical sale dates.  

The first will be a long term transaction with a purchase date of the original purchase and a basis of $28 and a sale price of $414.

The second is a short term transaction with a purchase date of the rollover and a basis of $414 and a sale price of $475.

[blesna1]

Awesome, thanks @RobertB4444 . And thanks for pointing out the purchase date info as I was debating that.

Also, since the shares were rolled from my 401k (and I don't have record of the purchase dates), can I say they were purchased on multiple dates?

[DianeW777]

Yes. The important action is to select the correct holding period if you choose to use 'Something Other Than a Date' and select 'Various'. Enter an Investment sale using the instructions below.

To enter your sale in TurboTax, follow these steps. 

1. Open or continue your return.
2. Navigate to the investment sales section:
   • TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
   • TurboTax Desktop: Search for investment sales and then select the Jump to link. 
     • Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (select this box)
3. Answer Yes to the question Did you sell any of these investments in 2025?
   • If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
   • Click this link for more information. Where do I enter Investment Sales?
   • Select the appropriate Type
   • If you aren't sure of the date of purchase you can can select 'Something other than a date' to select Various
   • Be sure you know your holding period (long term is over one year, everything else is short term)

@blesna1