To complete the review of your imported 1099-B in TurboTax Desktop, especially for a short-term transaction where the basis is not reported to the IRS, follow these steps:
- Open TurboTax Desktop and navigate to the section for your 1099-B. Use the search function to locate "1099-B" and click the jump link.
- Locate the transaction marked for review.
- Edit the transaction:
- Click on the transaction to open the details.
- Verify the date acquired and date sold for accuracy.
- Enter the cost basis:
- If the cost basis is not reported on your 1099-B, enter it manually using information from your brokerage statements or records.
- If you don't have the exact cost basis, use an estimated value based on historical stock prices around the acquisition date. You can find guidance on estimating the cost basis here
- Review the transaction again to ensure the review indicator is cleared. If it still shows as needing review, double-check the entered information for errors or missing details.
- If the review is not cleared, click the delete icon next to the 1099-B in question, delete it, and re-enter manually.
If these steps don't clear the review flag - reach back out
