Merrill Lynch said that the IRS changed regulations this year and required them to report the grant cost only on the form B. This omits from the basis the amount included in my W-2 as well as the commissions and fees I paid. The instructions to form state that if the cost basis reported on form is incorrect, then you should adjust it in column g. I did this in TurboTax, but then it asks me to put a code in column f and it limits the codes to C, D, or W. But the instructions to form seem to indicate that Code B is the correct designation. But TurboTax won't let me enter that code. Good news, TurboTax Premier will guide you though all the questions. For each option you need to report select the guided or detail button within the investment section. By doing so TurboTax will ask you for the required information to correctly report your option basis including the compensatory amount on your W I have the same issue. The code I want enter is "B" but your software does not let me do so! It would merrill more straight forward if you allow options of all possible codes. I follow your "edit details" menu option for a specific entry which allows me to indicate that the basis is incorrect and that it needs to be fixed. But your software only allows entry of a "C", "D" or "W". I do not understand why you limit the adjustment codes to only a subset of the valid codes. I think a lot of people is having the same issue where adjustment code "B" cannot be used to correctly calculate the capital gain tax through ESPP. Unless this is resolved quickly, I think I will need to go elsewhere to have my tax filed. I had similar issues and found Tom's step-by-step in the question "Can TT advise if NQSO's are handled correctly in the background on Form ? I am pretty sure I also removed merrill entry of B as the adjustment code, and the program no longer gave the error message as kulmanis describes above. I think that is because the program will enter B as the code because one indicates what category lynch being corrected and that category falls under a B code? TurboTax fails on "FEDERAL TAXES -- Smart Check" lynch the valid codes other than three single code -- "C", "D", or "W" entered in Form column fwhich prevents efiling. But on page 6 IRS " Instructions for Form " lists 15 valid codes for form column f such as "B", "T", "N" It also indicates that multiple valid codes can be entered in form column f. People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style options format of our responses. Here are five guidelines:. Saved to your computer. Select a file to attach: Ask your question to the community. Most questions get a response in about a day. After you register or sign in, we'll return you to this page so you can continue your participation in the community. Submit a question Check notifications Sign in to TurboTax AnswerXchange or. Back to search results. How options I correct the cost basis for stock options when the amount reported on form B is not correct? Merrilll, Lynch reported the grant cost as the stock for the transactions on form B. Merrill Lynch did not increase the basis by the amount included in my w-2 or for fees and commissions I paid on the transaction. How do I enter this increase in basis in TurboTax? Asked by hunterhermanson TurboTax Premier Options Edit Ask for details Archive. Was this answer helpful? No answers have been posted. This post has been closed and is not open for comments or answers. Here are five guidelines: When merrill questions, write like you speak. Imagine you're explaining something stock a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then merrill it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to stock lines. A lynch of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving lynch that contain little options than a link. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes. To continue your participation in Stock AnswerXchange: Sign in or Create an account.
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