lynnaluna
New Member

1099-B doesn't have a date acquired. "Something other than a date" won't let me select "Blank" and it's greyed out. I can select "Various" but it would be incorrect.

 

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Why would various be incorrect?  Did you only buy it one time and did not reinvest the dividends?  If it's classified as the right time period, Long Term or Short Term the date is not important.   As long as the date makes it LT or ShortTerm.

lynnaluna
New Member

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The reason I said "Blank" is the correct option is because date acquired (1b) is literally blank and nothing is listed in that box. I only owned it briefly, but there was one month with reinvested dividends. I was trying to follow the turbotax instructions that say to select Blank if box 1b is blank. It keeps saying "needs review" for this section because I left Blank selected but the software has it greyed out like it's not a real selection. I guess I could select Various, go back and find the actual date of purchase to enter (which the end of the prior year) or I could consolidate and not list these individually and see if that works. It is listed correctly as short-term. 

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Yep, I ran into this too.  Technically my 1099-B "date acquired" isn't blank, it's N/A.  I guess a couple of the stocks in my investments did a reverse split so I had a few "cash in lieu" entries with no cost basis and no date acquired.

 

The "learn more" link brings up a help page with the following text:

"If you don't have a single date listed in Box 1b of your 1099-B, you can select Something other than a date. After you select this, you can choose from two options: Blank or Various (or more than one date)."

 

Choosing "Blank" earlier on was fine, but at the end when it's checking for issues, it then goes back and refuses to accept "Blank".  Maybe there were some other scenarios where Blank would have been valid?  Otherwise they should just force you to pick Various.

 

Various does seem to make sense for me, because looking at the transaction history on my investment web site, it looks like they bought shares of this stock at various times over the years.  It doesn't seem possible to find a cost basis to enter, if it was bought at various prices at various times, so I'm leaving that as 0... Luckily the proceeds are pretty small since it seems like they're only what would have otherwise been fractional shares.

JohnB5677
Expert Alumni

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If the entries in question were the result of "cash in lieu" from a reverse stock split, the date acquired was the original date that the underlying stock was purchased.

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