Ok, so I got my first bass new a couple years back, and now that I am actually getting good at the instrument, I am learning the inards. I've reached the point where I am comfortable adjusting the truss rod on my own now but there is one problem, It's stripped. There is absolutely no way to turn it. I have never had it adjusted by anyone, and I've never messed with it, AND I got it new, so I have no idea how it got stripped, but whatever, what's done is done.
Any suggestions on how to go about adjusting the truss?
You can replace it, but it's a bitch. You've gotta remove your fretboard (I've done it with a heat gun) and put a new truss rod in. Then glue it back down with wood glue, I use Titebond II and it works fine.
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You basically have four options, and none of them are cheap.

1) Remove fretboard or skunk stripe, do some cutting and removing, and fully replace the trussrod, and then reattach fretboard. Highly unrecommended, especially if you aren't practiced at it. Techs and luthiers will charge through the nose for this, and all the luthiers I know will only recommend this for vintage instruments

2) Stew Mac Truss Rod rescue kit- costs $234, involves a bit of work.

3) Throw out neck, get new one

4) Throw out bass, get new one.

Unfortunately, your instrument will probably be out of warranty. I'm not sure how you Uniform Commercial Code works (if that's your US version of the UK's Sle of Goods Act)