How do I add an adjustment for the cost basis of some stocks I sold?

[Marwood_Abroad]

I sold some (RSU) stocks earlier this year and need to correct the cost basis, relative to the one provided on my 1099B. I'm using TurboTax Premier Online.  

If I check the box 'The cost basis is incorrect or missing on my 1099-B' TurboTax puts my corrected cost basis in column (e) of 8949 Part II. As I understand it, I need the cost basis from my 1099 to appear in column (e), then code B in column (f) and an adjustment figure in column (g). I can't find any way to get TT to do this.

Even if I type in the 1099 cost basis and detail all of the vestings and sales that lead to my corrected cost basis, it still puts the corrected value into column (e), rather than detailing the adjustment.

Annoyingly, TT shows a line for each sale in the input form that includes an 'adjustment' column, but there doesn't seem to be any way to apply a value to it.

Can anyone help?

[Marwood_Abroad · Accepted solution]

I re-read the instructions for form 8949 and it looks like my assumption was incorrect.

Because the cost basis on my 1099 was not reported to the IRS (ie: Part II box E), what TurboTax is correct to include my corrected cost basis in column (e) and then report code B in column (f).

[JPquestion]

Same issue for 2023.  

[DianeW777]

Yes, you are correct.  You must enter the correct cost basis because your 1099-B indicates it was not reported to the IRS.  Once you enter the correct cost basis then your resulting gain or loss is accurately reflected on the tax return and your Form 8949 will also be correct.

The amount goes in column (e). The cost basis can be entered and should be entered in the actual sale entry.  

1. Open (continue) your return in TurboTax
2. In the search box, search for investment sales then select the Jump to link in the search results
3. Answer Yes to the question Did you sell any of these investments in 2022? (or Okay! to Time to kick off your investments!)
   • If you land on the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments (or Edit beside your sale)

@Marwood_Abroad 

@JPquestion Your other question page is updated.