Incorrect 1099B

Forum|Forum|2 years ago
April 12, 2024
1 reply
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If I added up all my cost it would be 3093.31 but the cost basis shown on 1099b shows 594.64. I contacted the brokerage and they said their number is correct because of several reverse splits and cash in leu (which is 0). The proceed of the sale is 0.65. What is the best way to fix this?

DaveF1006

You would enter the amounts that are reported on the 1099B as is.

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tkoin1Author

but it is incorrect.

Also, the cost basis when I added up myself matches with the cost basis I screenshot from the app right prior the sale. No idea how they calculate that number in the 1099B

ThomasM125

If you are sure you know the correct cost basis, you should enter the Form 1099-B as it is stated. When you enter the sales proceeds and cost basis in TurboTax, there is an option to enter a corrected cost basis if the one reported on the Form 1099-B is incorrect. Just click on the box that says the cost basis is incorrect or missing on my Form 1099-B: