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1099-B box 1b is blank which is an option and listed in help text as valid choice but TT review keeps flagging blank as an invalid choice

 
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HelenC12
Expert Alumni

1099-B box 1b is blank which is an option and listed in help text as valid choice but TT review keeps flagging blank as an invalid choice

For financial institution reporting to you, yes, blank is a valid  choice. Your financial institution doesn't have the date you purchased the stock. However, you, as the taxpayer, needs to enter a date that you acquired the stock. The IRS needs a date so they can determine how they're going to tax you.  A short term stock sale is taxed differently than a long term stock sale. 

 

Try to narrow the purchase date down to a date or a date range. Document how you came up with a date. Once you have that, follow these instructions to locate historical prices.

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