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1099-B has "Date acquired" and "Cost basis" both "N/A". I supplied date
Everything seemed fine until Turbotax did the final review of my federal forms. It prompted me to supply the date acquired from form 1099-B, and wouldn't accept "Blank". The only way I could proceed was to enter the acquisition date, but after doing that, Turbotax seemed to assume a cost basis of $0, resulting in much higher tax bill.
I tried going through the 1099-B questionnaire and removing the acquisition date, but that didn't fix it. Should I try to remove the 1099-B and K-1 entirely and start over? Or should I provide the true cost basis in the 1099-B info (even though the 1099-B shows "N/A")?
I tried going through the 1099-B questionnaire and removing the acquisition date, but that didn't fix it. Should I try to remove the 1099-B and K-1 entirely and start over? Or should I provide the true cost basis in the 1099-B info (even though the 1099-B shows "N/A")?
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March 26, 2022
7:35 PM