1099B shows cost basis amount in Col D whereas import shows it in column E - how to fix it?

Forum|Forum|1 year ago
March 16, 2025
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Imported 1099b from fidelity - 1099B form shows costs basis in col D (eg reported to IRS) where as turbo tax import shows it as Col E (not reported to IRS).

JamesG1

Does the IRS form 1099-B report multiple transaction lines or just one transaction line?

Are you able to Review the transactions?

Then update the Sales section title to the correct title.

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Mehtavs Author

It has multiple transactions.

DavidD66

If you haven't already, I suggest you delete the 1099-B and import it again. If you get the same result then you will need to delete that version and then manually enter the Form 1099-B. If you have a lot of transactions, you can enter the category totals. To do so:

In the income section, Select "Investments and Savings...."
On the page "Did you have investment income in 2024?" Answer Yes
On the page "Let's Import your tax info" click on "Enter a different way"
Select "Stocks, Bonds, Mutual Funds" on the page with "OK let's start with one investment type"
When asked "Which bank or brokerage is on our 1099-B?" enter the name of your or broker or mutual fund company, leave the other fields blank. Click Continue
Answer the next three questions
Answer Yes to "Did you buy every investment listed...." (unless you inherited or were gifted the funds)
Select "Sales Section Totals"
Locate your sales section totals on your 1099-B
Enter your Investment Sales Section Totals and repeat till you have entered for each category.

After entering all your sales section totals, Look for "Now we'll help you upload your 1099-B since the IRS requires a copy" and follow the instructions, or you can mail a paper copy of your 1099-B to the IRS. If you want to mail, click on "How do I mail my statement".

Take a moment to double-check that your statements are complete. For each sale listed, there should be:

- A Description
- Date Acquired
- Date Sold
- Sales Price
- Cost Basis
- Gain or loss for each sale
- A based on how the sale was reported to you and the IRS

In some uncommon cases, there will be an adjustment code and adjustment amount.

NOTE: Any sales summaries that include only Box A or Box D sales, and which have no adjustments to gain/loss, do not need to be included on a statement mailed to the IRS.

Here's how to mail your statements:

If you are e-filing your tax return, then mail your statements along with Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

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