Question

1099-B has Date Acquired as “N/A” How do I enter that into TurboTax?

Forum|Forum|7 years ago
June 6, 2019
4 replies
0 views

My 1099-B has a UNDETERMINED TERM TRANSACTIONS FOR NONCOVERED TAX LOT wiith a Date Sold entered and Quantity entered but the Net Proceeds is “0.00", and Date Acquired is “N/A”. The only other entry is with Additional Information as “Merger”. How would this be entered into TurboTax as the need date for Date Acquired cannot be “N/A”?

I don't know of any merger for the company but only a Rights Offering that ended several weeks before the time frame of the Date Sold shown on the form. The entry descripton shows “RIGHTS/CUSIP...” with the Company name. The quanity shown is my original QTY and I did not purchase any additional shares during the Rights Offering.

TurboTax Premier Mac

M

maglib

Employee

what stock. there should have been basis of original purchase assigned to the rights offering that you let expire worthless. You may have a LT loss to account for. Normally the company will have information on their web site to help you allocate basis from original investment.

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R

RiccoAuthor

TGC-rights offering ended 2/2/17, I do have the original cost basis and acquired dates for my shares but why would I enter a loss since no sale was actually made?

M

mglauner

A Date Acquired is needed to see if the stocks were held less than a year; to distinguish between long and short term.

Choose a date less than a year prior to Date Sold if short term; more than a year for long term.

Here's more info:

https://ttlc.intuit.com/replies/5276920

R

RiccoAuthor

But I did not actually purchase anything or sell anything, don't even have a cost basis since it was a Rights Offering that I didn't exercise. The whole thing doesn't make any sense to have to enter anything on a Tax form. Did further research on statements and just entered the date the offering entered on my statement as Acquired date (which came out as short term) and entered "0.00" cost basis. Since I am not taking a loss I am guessing there should be no issue and the 1099B form should line up with IRS records at least.

S

Soccermaria00

I had deluxe while working on1099-B turbotax said only way to get forms was to buy premier.now it says i cannot change date sold from na because time has expired.

Why sell it then?

H

Hal63

I have the same problem. I see someone has submitted a response that implies the assumption that the broker wasn't the one who bought the fund for you and, therefore, you must be the one with the date acquired and cost basis info. Well, that's not the case here. In my case, I apparently have a broker who let this information fall through the cracks!!!! So what do you do in a case like that? TurboTax only has two non-date options (i.e. "various" and "inherited"). Does anyone know what to do with this other than firing the broker?