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.
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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.
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.
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.
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