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Thank you so much for your guidance!
I was finally able to enter the cost basis by clicking on the blue area in the return preview, as you suggested. However, I want to mention that it was quite difficult to discover this step, since the cost basis field is located on a completely different input screen (see attached screenshot). It’s not at all intuitive that you have to go to the “1099-B proceeds from broker and barter exchange transaction” section under General Information to enter the property’s cost basis for a casualty loss.
If anyone else is struggling with this:
Click on the blue amount or line number in the return preview (Line 2 or wherever the error is) and ProConnect will jump directly to the correct data entry screen.
Then, enter your cost basis under the “Cost or other basis” field (in my case, $125,000).
After doing this, the return calculated correctly and the capital gain issue was resolved. Thanks again for your clear instructions and for saving me a lot of time!