Dear @CHAMP (and TurboTax Support),
Your answer is spot-on correct! But, I have a suggested correction to be made to a pop-up direction for populating the "Date Acquired" field of the Step-by-Step 1099-B input screen for TurboTax's Home and Business CD, and presumably other products. Specifically, making the following modification:
Date Acquired
Here are examples of how to enter the date you originally bought acquired the item:
- 03/22/2022 - The date you bought acquired the item.
- Inherited - You inherited this item.
- Various - You bought shares of a security at different times, as you would if you bought more than one block of stock or regularly reinvested dividends in additional shares.
Reasoning:
I received stock back in 2001 when an insurance company in which I owned a small Life Insurance policy, went public and issued Common Stock to its Insured. Upon selling a number of these shares in 2022, I was issued a 1099-B detailing the sale. The Box 1b (Date Acquired) field was left blank, though the date the stock was issued to me was provided for 'informational purposes My point is that I never Purchased the stock, but rather received or Acquired it, and I suggest the instruction be modified accordingly. Thank you!
