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.

Need to Adjust Cost Basis on a Long Term Noncovered Security

My 1099-B lists the proceeds but not the cost basis for a long term noncovered security sale through Computershare.  I have documentation from Computershare at the time of the sale that shows the cost basis.  In this case the cost basis is more than the proceeds, so a net loss.

 

I've checked the box that says "I need to adjust my total cost basis" and below that it says "Total adjustments to gain (or loss)" with a box to enter a number.  That box won't allow me to enter a (loss), it won't accept parentheses and any amount I put in that box gets added to the total proceeds.  What am I supposed to report in this box and how do I do it?  I have checked adjustment code B (cost basis incorrect on form) for the reason for the adjustment.

 

Thanks in advance for any help.

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.

1 Best answer

Accepted Solutions

Need to Adjust Cost Basis on a Long Term Noncovered Security

OK, I feel kind of dumb.  I was trying to enter a negative number using parentheses but what it required was a minus sign.  Problem solved.

 

View solution in original post

2 Replies
DavidD66
Expert Alumni

Need to Adjust Cost Basis on a Long Term Noncovered Security

Did you import your Form 1099-B?  If so, you need to delete the form and enter it manually.  You will then be able to make the adjustment to the cost basis.  

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

Need to Adjust Cost Basis on a Long Term Noncovered Security

OK, I feel kind of dumb.  I was trying to enter a negative number using parentheses but what it required was a minus sign.  Problem solved.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question