mrwzrd26
New Member

Investing

I have the same problem only I have 45 of them, most are long term covered but a few are short term covered.  My problem is that if I don't factor in the "days added to holding period," some of my long terms are actually short term so I'm thinking of changing my acquired date to "Various" which TurboTax will allow me to do.  I just don't know if I want to raise the red flag by checking the box on the next screen that says my "acquired date is wrong" because that will check a box on one of my tax forms.  The date isn't really "wrong," it's just incomplete.  The way it was explained to me is that if you add the number of "days added to holding period" to the "acquired date" listed on your 1099, then that is the day the security was "originally purchased."  Then, somewhere within 30 days of the "date acquired" on the 1099, the security was sold off then repurchased on the "date acquired" which triggered the "wash sale" so you can't deduct the loss.  I talked with my financial adviser who works for the firm that generated the 1099 info to find out why this would happen and he couldn't tell me much other than it had to do with when the account was rebalanced and possible volatility in the market.  If anyone else has a better idea for this situation, please post it! I can't figure out any other way around it because I definitely don't want my long term transactions showing a holding period of less than one year.