Can you please review your response and let us know if there is a different option? I am having a similar issue related to the cost basis for donated stocks.
Stocks were acquired on various dates, all held for multiple years so beyond the 1 year threshold. I have tried both options in the Date Acquired field - (a) Choosing a date older than a year (even though they were acquired on various dates) and (b) inputting "Various" instead of a date (which is what the instructions say to do.
Leaving the Cost Basis field blank or inputting the same value as the Fair Market Value (since the stocks were purchased more than a year ago and I should get full value for the donation) provides a greater refund to me. If I input 0 or the the actual cost basis, my refund is diminished, which should not be the case.
However, Turbo Tax requires a value in the Cost Basis field even though direction from the IRS states that a cost basis does not have to be provided. It seems Turbo Tax's calculations in this matter are incorrect.
How can we proceed with leaving the Cost Basis blank and not getting an error message from Turbo Tax?
