Question

Do I enter Fidelity's Supplemental Information w/ adjusted cost basis in Cost or other Basis box or is there another box I have to show the adjustments/Ordinary Income in

Forum|Forum|7 years ago
June 5, 2019
1 reply
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I sold some of my stock last year that I purchased with my company's ESPP. Fidelity provides 2 different things; "Tax Reporting Statement" and "Supplemental Information" The supplemental info shows the ordinary income reported, along with the adjusted cost and adjusted gain/loss. Assuming, so you don't get taxed twice here. Can I simply replace the adjusted cost on the supplemental form into the box 1e "cost or other basis"? Or must this adjustment be represented in another way/box?

TurboTax Premier Online

T

TomYoung

Employee

Assuming that the compensation ("ordinary income") is reported on your W-2 what you do is:

Enter the 1099-B exactly as it reads and then click the blue "I'll enter additional info on my own" button. On the next page enter the correct basis in the "Corrected cost basis" box.

Tom Young

(SINCE THE DEVELOPERS CHANGE THE SECURITY SALE INTERVIEW EVERY SINGLE YEAR I'LL NOTE THAT THIS ANSWER'S DIRECTIONS ON HOW TO CORRECT THE BASIS FOR THE SALE PERTAINS TO THE 2016 INCOME TAX YEAR. I'M SURE THAT THE INTERVIEW WILL CHANGE IN THE YEARS AFTER THAT.)