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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4027
Experience:  35 years tax experience, including four years at a Big 4 firm.
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1099- question. Changed Financial advisors. Don't agree with

Customer Question

1099-B question. Changed Financial advisors. Don't agree with one of the financial institution cost basis and gain for one fund. Using Turbo Tax and I'm trying to correct 1099-B worksheet, but get error message that I'm looking for assistance/advice to correct
Submitted: 6 months ago.
Category: Tax
Expert:  PDtax replied 6 months ago.
Hi from Just Answer. I'm PDtax. I will assist. As you know, IRS mandated that brokers report cost basis information, which you are typically required to use (unless you properly elected another method, OR if you changed brokers. You changed brokers. Best when you fill out the worksheet is to check "basis not reported", then enter yours in the transaction detail. This will be reported on 8949, and carried forward to the Schedule D. Make sure you enter the CUSIP number so the instrument transaction can be identified if you are ever asked. Thanks for asking at Just Answer. I used the following as guidance: (check the last item listed). Positive feedback rating my response is appreciated when you accept. I'm PDtax.
Customer: replied 6 months ago.
I would like a different Expert to answer the question.

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