Question

1099

Forum|Forum|5 years ago
February 16, 2021
1 reply
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I imported my 1099-B from TD Ameritrade and Turbo Tax is telling me to finish filling out date acquired and cost/basis. When I look at my 1099-B date acquired says n/a and there is nothing in the cost/basis column. The 1099 says date acquired and cost/basis was not reported to IRS. So should I just leave those lines blank on my tax return?

Thanks

TurboTax Deluxe Online

H

HelenC12

No, you shouldn't leave these fields blank. You won't be able to e-file. You need to manually enter when you purchased or acquired the stock and how much you paid for them. Leaving the information blank or with zero's, will tax you on your total sales proceeds.

If you don't know when you bought the stock or for how much, see the tools below to help you. If you need to estimate a purchase/acquired date and your cost basis, document how you came up this the information and save it with your tax records.

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