Box 1(b) is for the date acquired. It is necessary to determine if your investment sale is long term (investment held for more than one year.) The date is often missing on the 1099-B form since the broker may not know when you acquired the investment. In that case, you may need to estimate the date acquired, keeping in mind that you should choose a date that is either more than one year before the sale date for a long term sale, or less than one year for a short term sale.
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