ESPP: Adjusted Cost Basis does not reduce the tax due

Forum|Forum|1 year ago
April 6, 2025
1 reply
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Hi,

I have added a ESPP sale by adding details from Form 1099. This results in a small gain and hence increase in small increase in tax due. On the next screen, I check "Adjusted Cost Basis" and enter a new value that results in a loss. However, the tax due remains the same.

Any help to understand what is going is appreciated!

Thanks!

TurboTax Premier Online

KrisD15

After making the change did you continue through the interview and select "Done with Income" to see the results?

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SKKZAuthor

It looks like I had created this entry some time back (or had used as the default one that is based on 2024 returns). Once, I deleted the whole thing and restarted, I am getting a screen where the requested inputs are different from what I was seeing earlier. Now, after restarting, it seems to be working fine.

Thanks for the response!