Turbotax states "needs review" on some transactions in my 1099-B. I have reviewed them and answered all questions, but Turbotax still says "needs review" How to proceed?

The transaction is an 'unknown term basis not reported to IRS'. My 1099B gave no cost basis but gave me a cost basis factor which I used to calculate the tax basis and fill it in. I think I've completed all the forms/questions completely ... how do I determine what Turbotax is complaining about so I can resolve it?

300

Expert Alumni

Apr 11, 2021 7:39:42 AM

If you have an entry that consistently says "Needs Review" , and you've double checked the entry, I suggest that you go through the FEDERAL REVIEW that is on the top menu bar.

This will give you specific questions about any entry that is out of line.

Federal Review is at the top of your screen along with

Income & Expenses
Deductions & Credits
Other Tax Situations
Federal Review

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Turbotax states "needs review" on some transactions in my 1099-B. I have reviewed them and answered all questions, but Turbotax still says "needs review" How to proceed?