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heput
New Member

Missing info on 1099B

The 1099-B from my broker does not have the Cost Basis listed, I guess because the account went through several different brokerage firms.  I have all of the statements and can calculate the cost.  As I entered the 1099B information I checked the box stating that the Cost Basis is missing then entered the calculated amount 2 screens later, but TT keeps flagging the missing information as an error.  I have sold some of this stock several years ago using the calculated basis and had no problems.   How do I clear the error? 

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2 Replies
JamesG1
Expert Alumni

Missing info on 1099B

I was able to clear the entry.  Hopefully, the tax return will transmit, as well.

 

In TurboTax Online, I manually entered an IRS form 1099-B transaction.  Box 1e Cost or other basis is left blank with the box checked The cost basis is incorrect or missing on my 1099-B.  

 

The Actual cost basis was entered at the screen We noticed there's an issue with your cost basis after selecting the box I know my cost basis and need to make an adjustment.

 

I select Review and arrive at the screen Take a moment to review these investments.

 

 

Select Continue and I receive a message that errors have been cleared.  IRS form 8949 reports the correct entry.

 

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heput
New Member

Missing info on 1099B

Thanks for the response JamesG1. 

 

Yesterday I ignored the flag and continued to complete my taxes including the state.  Anticipating an error, when I ran the checks at the end of the program everything came back OK.  I visually checked that all of the information was included and made sure I had not forgotten everything.  Despite the earlier warning to the contrary, I was able to submit my taxes electronically.

 

Thanks again for the response.  Hopefully this information can help others.

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