NOT applied "adjusted cost basis" in form-8949

[bodram]

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?

[fanfare]

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.

@bodram