Skip to main content
March 17, 2025
Question

How do I ensure that "cost basis reported to the IRS" is captured correctly in Tax filing?

  • March 17, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    JohnB5677
    March 17, 2025

    The amount sent to the IRS is what's on the 1099-B.

     

    You can correct a basis from the 

    1. Sign into TurboTax
    2. There is a Sidebar to the left
    3. Under Federal
    4. Select Wages & Income
    5. In the main body, scroll down to Investments and Savings (1099-B, 1099-INT, 1099-DIV, 1099-K, Crypto) 
    6. Depending on what you've already posted, you may see different screens
    7. If you've already entered transactions, select the account to change
    8. [Edit]
    9. Choose the stock (Use the Pencil)
    10. Under the Cost or other basis 
    11. Choose The cost basis is incorrect or missing on my 1099-B.
    12. Make the changes
    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"