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zekeriyya
Level 1

I don't see "Corrected Cost Basis" box while reporting RSU sales on TT 2020 Desktop Software (Home and Business)

I don't see "Corrected Cost Basis" box while adding extra info to the stock proceedings imported from 1099-B. Using this box is the suggested way of entering adjusted cost basis on other posts like this: 

 

https://ttlc.intuit.com/community/taxes/discussion/re-when-i-enter-adjusted-cost-basis-from-etrade-s...

 

However, I don't see all the boxes mentioned in that post on my desktop SW, instead this is what I see:

 

tmp.PNG

 
 

I tried updating software but nothing is fixed. Could anyone suggest to help with reporting adjusted cost basis another way or fixing this software issue? Thanks a lot in advance

 
 
 
 
 

 

3 Replies
DavidD66
Employee Tax Expert

I don't see "Corrected Cost Basis" box while reporting RSU sales on TT 2020 Desktop Software (Home and Business)

The adjustment screen is a few screens past that.  Click on Done, and then you will see "Was this a sale of employee stock?"  Since it was RSUs, if they value was properly reported on your W-2 when issued, and you know the correct stock basis, you can answer no, and on the next screen you can indicate that "The cost basis on my statement is incorrect".   Checking that will cause the program to reveal a "Corrected cost basis" box where you can enter your correct stock basis.  (See screenshot below.)  Or you can indicate it's employee stock and the program will walk you through the entry.

 

Corrected Cost Basis Entry

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zekeriyya
Level 1

I don't see "Corrected Cost Basis" box while reporting RSU sales on TT 2020 Desktop Software (Home and Business)

Thanks a lot @DavidD66, I can see that box when I select "No" for "Was this a sale of employee stock?".  But wouldn't that be a wrong statement while those RSUs are acquired through employee stock program?

 

I just noticed that when I select "Yes", there is still an option to correct cost basis at the end as below, would that be a more proper way of doing it?

 

tmp2.PNG

DavidD66
Employee Tax Expert

I don't see "Corrected Cost Basis" box while reporting RSU sales on TT 2020 Desktop Software (Home and Business)

Yes, technically it would be an incorrect statement to say it wasn't employer stock, but there is no penalty for making an incorrect statement to TurboTax in order to skip a lot of unnecessary questions and entries.  You can do it either way, the result will be the same.

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