Skip to main content
March 8, 2025
Question

Can I change imported cost basis on a sold common stock

  • March 8, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    March 14, 2025

    Here's the steps to change a stock Cost Basis from Expert @JamesG1:

     

    In TurboTax Online, follow these steps to remove or edit an investment sale transaction.

     

    • Down the left side of the screen, click on Federal.
    • Down the left side of the screen, click on Wages & Income.
    • Scroll down to Investments and Savings and click the down arrow to the right.
    • Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
    • At the screen Let's finish pulling in your investment income, click the down arrow to the right of the 1099-B investment.
    • The Edit and delete trashcan become visible.
    • To edit or delete an individual line within the IRS form 1099-B entry, select Edit.  Individual lines become available.  
    •      Bulk Edit may be available by clicking the box to the left of the line.
    •      The pencil icon is used for editing the line.
    •      The trashcan delete icon is used to remove that line.

     

     

     

    In TurboTax Desktop Premier version, follow these steps to remove or edit an investment sale transaction.

     

    • Select Federal Taxes.
    • Select  Wages & Income.
    • Select I'll choose what I work on.
    • Scroll down to Investment Income.
    • Select Start / update to the right of Stocks, Mutual Funds, Bonds, Other.
    • At the screen Your investment sales summary, the Edit button and delete trashcan are found to the right.

     

    @chrisjmeehan