Urgent - How to enter an Adjustment on Investment Income (1099-B) !!??

[Leinadp]

There is a big issue with the new UI on Turbotax 2023 (I use the Desktop Version).
After importing the data from my broker, on the summary of Stock sales, there is an "Adjustment" column that shows $0.00. When I click on Edit that goes to the detail list of every sale, which i can edit individually...
BUT I can't find a way of adjust the gain or loss of each sale, or the total. You could do that in Turbotax 2022.
Note: I need to make this adjustment because in 2023 I still had a Joint account with my ex-wife and we need to split the revenue 50-50%

Please Help! How can make the adjustment? I read somewhere that it's possible to edit the form directly, but that can create e-file issues.

[dantelman]

This sounds like a more complex situation that Turbo tax isn't designed to handle. You may want to ask an accountant. For 1099s, TT is set up to import exactly what is on the brokerage statement. If you bought and sold securities through the same brokerage, then the brokerage will automatically calculate the cost basis and gain.  You are stating that you want to reduce the gain by 50% which will create a discrepancy with IRS (remember the 1099 gets filed with the IRS as well).

Did you search the IRS web site for this specific situation? 

Another way to handle this is that for 2023 you pay all the tax on the dividends, interest and capital gains and she reimburses you for half of the tax you paid. 

[Leinadp]

You may be right but I'm afraid it's late for that because she has already filed her half with a CPA...but I'm out of how exactly they did it...

Answering myself above, I just found out how to enter an adjustment, it's just more convoluted than in TT 2022... Back then you could just enter an adjustment, positive or negative. Now you need to edit each sale, mark the option "The cost basis is incorrect on my 1099-B" then "None of these apply" then "I know my cost basis and need to make an adjustment" and then you need to enter a recalculated cost basis, which for my case is the original cost basis + 50% of the capital gain/loss (you may want to have that amount calculated beforehand).
I hope/expect that on the produced 8993 form this will show just as an "adjustment" at the end, not actually editing the cost basis.

[steveb444]

From what I saw online, automatic import from brokers create issues sometimes. In my case I entered each ESPP and RSU transaction manually and there is a pencil mark that once pressed it allow you to edit everything (date, cost, proceeds etc.). If there are too many transactions (not ESPPs nor RSUs) but regular stocks buy/ sale, beyond a certain number I will not try to enter them manually or import them since TT will not work properly, especially when these transactions are from different brokers or they trigger the wash sale rule. I decided to pay a fee for a separate program that allows to keep track of all these transactions correctly and I enter the summary of all those transactions generated by this program as a single line in TT.