Question

1099-B Date Acquired (multiple)

Forum|Forum|6 years ago
March 9, 2020
1 reply
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On my 1099-B form in field 1b it says “multiple” however turbo tax is asking for “date acquired” in 00/00/0000 format. What do I enter?

H

HelenC12

To handle multiple acquired dates in Form 1099-B, Box 1:

On the Now we'll walk you through entering your sale details screen, under When did you receive this investments? select Something other than a date.
On the drop down menu, select Various (or more than one date).

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T

tweetydancer2000

I am having this issue, but when I went back and changed to various, where the 1099B edit page is, it still will not let me e-file. It keeps taking me back to fix return and wanting me to put in Date Acquired. If I put in the date or various it just keeps taking me back to the same page.

ReneeM7122

The software needs a date acquired because it has to be able to calculate whether the sales were short or long term transactions. The capital gains rate is higher for short term (a year or less). If it's blank on your 1099-B, it means the payer didn't have the information (probably because it was "various").

Look back into your records and enter a date. If it isn't exact then enter something close. Remember, the point is to ascertain if the gain is short or long term.

If you aren't sure how long you held the securities, try looking for the "Box" or "Code" on your 1099-B.

If Box A or B is checked, then the holding period was less than one year.

If Box D or E is checked, then the holding period was more than one year.

@tweetydancer2000