Question

TT keeps erroring on 1099B worksheet for Holding Period. I select No Entry and then when TT checks for errors, it keeps coming up. How do I fix this error?

Forum|Forum|7 years ago
June 5, 2019
4 replies
0 views

When I select No Entry for 1099-B Holding Period, TT accepts the input, but when it checks for errors, it continues to flag this as an error. How can I clear this error?

TurboTax Deluxe Windows

fanfare

Employee

If Date Acquired is blank, enter the keyword "various". You must determine the holding period.
For long term use Sales category Box E
for short term use Sales category Box B

P

Pedro11_2

Thanks, this helped me identify the error and fix it. I tried entering "Various" for the Box 2 (Type of Gain), but I guess this keyword only works for dates. I know the date of acquisition even though it was not reported on 1099-B (and therefore empty Box 2).

The error Turbo Tax was giving me was related to leaving Box 2 (either line 9a in 1099-B worksheet, or line 1b(3) in Capital Gain Transaction Worksheet) empty, while having a corrected Type of Gain indicated (for either line 9b in 1099-B worksheet, or line 1b(4) in Capital Gain Transaction Worksheet). Review give error message "Type of Gain Reported must be entered when corrected gain or loss is entered".

It turns out error can be fixed by leaving both of those lines blank in the worksheet. Later when I enter the date of acquisition, TT knows to enter the correct type of gain (L or S) in the "Holding Period" field in the final "Result".

C

CBM1

Ok so I went back through and fixed this for myself.  It came from problems with sales/transactions with cost basis not reported to the IRS.  Here are the steps:
1.  Delete the offending 1099-B.
2.  Re-import.
3.  Select "My 1099-B has info that I know isn't right"
4.  Edit the transactions to add the proper acquisition date and cost basis, but DO NOT edit the dropdown box (even though it is red) that has something like "Transaction Type."  Leave it blank.  Turbotax will not complain and the error will go away on the check.

K

KittyM

Employee

"Holding period" means "How long did you have this security?" The answers are "Short Term" (less than one year) or "Long Term" (one year or more).

If you have entered dates for the purchase and sale of your security, TurboTax will calculate the holding period for you automatically.

B

bjgrevera888Author

Turbo TaxKitty, that didn't answer my question. Let's try again. On my 1099-B, box 2 is blank. Box 5 is checked. When I put my 1099-B information into Turbo Tax, the program errors on the Holding period. I select NO ENTRY and TT continues to think its an error. How do I fix this error?

A

Anonymous

Same issue. Tried all suggested options. No luck. I guess Robinhood's bragging about the ease of use with TurboTax runs about as deep as their ethics.

T

Takingtoolong

Imported 1099-B, all acquired dates are populated but it askes for acquired dates repeatedly postponing my filing. In adjustment codes I see BYPASS8949, I'm not allowed to change anything in the window beneath the check entry statement though beyond re-entering the Date Acquired, at which point it just asks me to enter it again, like it's stuck in a loop.