For a 1099-B with RSU transactions, do I report Cost Basis ($0) or Adjusted Cost Basis?

Forum|Forum|3 years ago
March 18, 2023
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My 1099-B and my financial institution's supplemental transaction report show my Cost Basis for RSU transactions as $0. However, the Adjusted Cost Basis is non-zero. TurboTax asks for "Cost Basis or Adjusted Cost Basis." Which do I report? Obviously, it works out much better if I can use Adjusted Cost Basis.

TurboTax Premier Online

Best answer by LindaS5247

You can enter the adjusted cost basis.

LindaS5247Answer

You can enter the adjusted cost basis.

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Happylala

I have the same question. Where is the screen to enter the adjusted cost basis? Any instructions?

mglauner

If you know your Correct Cost Basis, you can enter it in the Cost Basis entry field. Save documentation for amount entered. If you know your Cost Basis, use the regular 1099-B entry and don't indicate 'employee stock sales'.

Or, in TurboTax Online, there's a box to check for 'cost basis is incorrect', then enter the correct Cost Basis.

In TurboTax Desktop, there's a similar screen a couple screens after the original entry.

@Happylala