Hi there,
I entered 1099-B for the stock I sold in turbotax. (First of all, the sold stocks were RSU, and my transactions are short-term transactions.)
On 1099-b in turbotax, I added my sales transactions. The turbotax was configured to enter three pages for each transaction.
On the first step, cost basis was written as 0, so at first I entered 0.
On the next page, there was no sales cost, so I chose "non of these apply" and went on to the next page.
And on the third page, I chose "I found my cost basis" and entered adjusted cost basis.
However, the results show that is short-term (box C), and cost basis is also entered as 0.
Because I entered adjusted cost basis, I expected it to be short-term (box B), and the gain/loss will be recalculated based on the entered cost basis. But, TurboTax desktop is not working as I thought.
What could be the problem?
Box C happens when you tell TurboTax you have no 1099-B from your broker.
not to be confused with zero basis.
When zero basis on 1099-B is incorrect, TurboTax will let you enter the correct basis.
suggest you delete the transaction(s) and redo it.