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Retirement tax questions
For box 1b enter the date of purchase, or the word Various, if multiple purchases were made. In box 1e, enter you basis according to your records.
Box 5 indicates this is a non-covered security. That means your broker either doesn't know your basis, or is not required to report you basis to the IRS.
When you report a non-covered security, you have to fill in the Date acquired (box 1b) and the Basis (box 1e) based on your own records. This is not considered altering an IRS form.
Box 5 doesn't appear on the screen in TurboTax, but the Holding period field is based on whether the transaction is short term or long term, covered or non-covered.
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‎February 24, 2022
2:49 PM