1099B Date Acquired Various

[rtrios01]

I completed import of my 1099-B from my brokerage account and am ready to file.  However, TT keeps telling me there are several items I need to review. 

Under the 'Check This Entry' wizard, I'm informed that I need to enter the Date Acquired for a certain short term holding.  After review of the 1099-B from my broker I have confirmed it is listed as VARIOUS on the 1099-B.  Whenever I enter this value, the wizard just loops back to the exact same page asking about the exact same holding. 

How do I enter "various" for the date acquired as it says on my 1099-B?  Extremely frustrated right now.

[JohnB5677]

There is a procedure for entering Various into you investment transactions.

Open (continue) your return if it isn't already open.

1. Income & Expenses
2. Scroll to Stocks, Mutual Funds, Bonds, Other
3. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
   • If you see Here's the info we have for these investment sales, select Add More Sales.
4. Answer Yes to Did you get a 1099-B or brokerage statement for these sales?
5. At Let's get your tax info, choose how you want to enter your 1099-B (type it in yourself)
6. Select the pencil to work on the transaction
7. In the date area there are two bullets.
   • On one Date, and
   • Something other than a Date
8. Select Something other than a Date
9. There is a drop down menu for Various.

[rtrios01]

Prior to posting in frustration on this forum I went back into the 1099B section under wages and income section of TT.  I selected the transactions list that TT imported for my broker.

I manually added all the VARIOUS date listings (as there were multiple from my M1Finance account) and continued through the wages and income wizard.  There were no complaints that any of my entries needed to be reviewed upon completing these manual changes.  I logged out of TT and then logged back in.  I reviewed the 1099-B section of wages and income to ensure that all the manual changes I made to these listings were saved.  All line items with "Various" under date acquired are ticked as "Something other than a Date" and "Various" is selected from the drop down list.  Under the wages and income section wizard nothing needs to be reviewed. 

Upon pedaling through the rest of the wizard I get to the end essentially just before filing.  I am again informed that several entries need review.  I have already confirmed multiple times under the 1099 B wizard section of TurboTax it has VARIOUS listed within the 1099-B section under wages and income.  The 1099 B wizard does not tell me that anything needs to be reviewed.  Yet, once I get to the end just before filing I am informed that my 1099B entries need to be reviewed.  I've reviewed them.  Multiple times.  I have confirmed that the entries are saved.  Still frustrated.

[fruhoo]

It is doing it to me as well...I even tried removing the sales entry to see if I would get a "needs review" tag and I did.  It seems to be the last entry on the 1099B, regardless of what date you put in (various or a single date)  that is having the issue transferring the "acquired date" to the worksheet.  I don't want to mail this return, but unless I can get it fixed, that is what I will have to do.

[rtrios01]

@fruhoo very interesting.  I just went and looked at my transaction list and it appears to be the final transaction on the list as well.   Does anyone from Intuit actually check these boards?  I would really like to resolve this issue to get my taxes done.

[fruhoo]

Me too...I got ahold of support yesterday and they told me that I needed to clear and start over!! I have already paid for TT (which is a no-go for starting over) so I guess I may have to mail my taxes rather than e-file.  This is so frustrating!!  

[rtrios01]

I have already paid for TT as well and cannot start over either.  This is extremely odd that we're in the exact same frustrating boat.

[rtrios01]

@fruhoo 

I FINALLY got this figured out and I hope I what worked for me works for you as well.

Under the 1099B section of each of your individual transactions there should a drop down at the very top.  This is to select which tax treatment to apply to each 1099B entry SHORT TERM - COVERED, SHORT TERM-UNCOVERED, LONG TERM - COVERED, etc etc.

After pounding my head against my desk I noticed that this was not selected automatically from the imported form from my broker.  Upon selecting the proper classification for each individual transaction I was able to finally get passed the check your entries loop I was stuck in. 

Within the 'Check This Entry'-wizard I was still prompted for the date acquired for several of the entries which had "Various".  However, unlike previous attempts the wizard accepted my entry of Various in-lieu of a date and continued on. 

I hope this helps you get these e-filed.  Just got mine knocked out and it feel great to be done with it.

[JeanneLO]

Thank you for updating the community on your solution. Although not completely related there is also a new FAQ when the 1099-B is missing an acquired date: Why is my 1099-B missing its acquired date?

@rtrios01