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jkolovani
New Member

1099 B boxes for date acquired and cost basis are blank but noncovered security is checked. Can anyone tell me what I need to enter for DA and CB in turbo tax?

 
1 Reply
DDollar
Expert Alumni

1099 B boxes for date acquired and cost basis are blank but noncovered security is checked. Can anyone tell me what I need to enter for DA and CB in turbo tax?

The acquisition date is simple.  You can just use "Varous" but be sure to properly indicate whether it is Long Term or Short Term.

You need to determine your cost basis.  If you know your acquisition date you can look up the stock price using almost any financial institution web site.  If you can't determine your acquisition date, if you can determine a date range you can determine the low stock price for that period and use that.  If you can't determine a range, you can look up the all time low for the stock.  Finally, you can use a cost basis of zero, but that will make the entire proceeds received a taxable gain.

Finally, if you inherited the assets, your cost basis is the value on the date of death.


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