Adjusting cost basis on 1099-B

Forum|Forum|3 years ago
April 17, 2023
2 replies
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How do I adjust the basis on my 1099-B to reflect the correct basis from my sales worksheet from my Schedule K-1? I calculated my adjusted basis, however I am having trouble finding where to put this as in my forms, only a 1099-B Worksheet is listed which won't let me change any numbers.

Please help! Thank you.

Mike9241

Level 15

the easiest way is to just change the cost because it is not reported to the IRS and not enter a code

the 8949 instructions say If this transaction is reported on a Part I with box B checked at the top or if this transaction is reported on a Part II with box E checked at the top, enter the correct basis in column (e), and enter -0- in column (g) and enter code B. the only difference is the entering of the code or not.

JAAA4Author

Level 2

Thank you. So change the cost on form 8949? I have seen other posts that said to change the cost on form 1099B?

The transaction is reported on part 1 with Box B checked.

ThomasM125

Level 15

The code "b" in column F in part II of Form 8949 would mean the cost basis listed on your Form 1099-B was incorrect. I'm not sure what column you entered the "0" in so you would have to clarify that better for us to help you.

@tpeters623

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