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February 22, 2021
Question

1099-B entry asking for more info. Sale category of X but no data in boxes 1b, 1e, 2

  • February 22, 2021
  • 1 reply
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I have a 1099-B with 3 lines of sale categories; 1 for Short Term (A), 1 for Long Term (D), and 1 for X (unknown). After I enter the info TurboTax is asking for more input on the X line for 1b (date acquired), 1e (cost basis) and Box 2.  Those 3 boxes are blank on my 1099-B.   How do I get TurboTax to accept my data and allow me to continue?

    1 reply

    JohnB5677
    February 25, 2021

    If your broker doesn't provide certain information is is your responsibility to maintain it.  The items in question are:

    • 1b (date acquired),
    • 1e (cost basis) and
    • Box 2. (Long/Short Term Gain)

    Entry 1b will determine if it is a long or short term transaction.  If it is less than a year it is short term.  If it is more than a year it is Long term.  To the best of your recollection determine the date you acquired the investment.

     

    Entry 1e is the cost basis.  This is the amount you paid for the investment.  You may be able to use Historical Stock Quote Prices - MarketWatch to determine the original value.

     

    Entry Box 2  Once you know line 1b you will know if it is Long or Short term.  Check the appropriate box.

     

    There are seven possible "Box" designations that indicate the holding period (Long/Short Term) and the reporting status.  A Box X code is to report a transaction if you cannot determine whether it is a Long or short term transaction.

     

     

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