turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I participated in a secondary offering and sold shares. They charged transaction fees and other fees. Do I add these to my cost basis?

The fees were based on the number of shares/proceeds.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I participated in a secondary offering and sold shares. They charged transaction fees and other fees. Do I add these to my cost basis?

Your cost basis is usually your total cost of the asset, including transaction and other fees.
See https://www.irs.gov/taxtopics/tc703

 

**Say "Thanks" by clicking the thumb icon in a post

JohnB5677
Employee Tax Expert

I participated in a secondary offering and sold shares. They charged transaction fees and other fees. Do I add these to my cost basis?

You are correct.  It will be included in the cost basis:

 

TurboTax has made allowances to make this correction. 

  1. When posing in the Stock area there is a check box.
  2. Under Box 1e - Cost or other basis 
    1. Report the basis as it shows on the brokerage firm
  3. Below that you will see 
    1. The cost basis is incorrect or missing on my 1099‑B
    2. Check this box and .. Continue
  4. Let us know if any of these situations apply to this sale
    1. ​​​​​​​None of these apply .. Continue​​​​​​​
  5. We noticed there's an issue with your cost basis...Let us know if you'd like to make any changes
    1. I know my cost basis and need to make an adjustment
    2. Enter the adjusted amount

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies