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1099-B RSU question

Forum|Forum|4 years ago
March 6, 2022
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Hello and good day, everyone!

I have, hopefully, a simple question.

I had a bunch of RSUs fully vest in 2021 and I ended up selling those the next day for a small loss. I received the 1099-B from Fidelity and it shows $0 for the cost basis and a code that indicates "cost basis not provided to the IRS." (Code B I believe). They also sent a supplemental form that shows the actual cost basis.

I am avoiding the TurboTax RSU interview as it is a pain. My question is, should I enter $0 for the cost basis to match the 1099-B and then say the cost basis is incorrect and then provide the real cost basis? Or, should I just enter the real cost basis at the beginning? I have tried it both ways and there is no difference in the tax calculation, which I expected. I just don't know the proper way to report this.

Thank you in advance!

Best answer by DavidD66

Since the transaction is reported with Code B, it doesn't matter which way you enter in TurboTax. Initially entering the correct cost basis is the easiest and simplest way to do it, so that is what I would do.

D

DavidD66Answer

Since the transaction is reported with Code B, it doesn't matter which way you enter in TurboTax. Initially entering the correct cost basis is the easiest and simplest way to do it, so that is what I would do.

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