topic Ameriprize 1099-B Undetermined Term Smart-Check questions in Get your taxes done using TurboTax

Ameriprize 1099-B Undetermined Term Smart-Check questions

MARC1TIM — Mon, 09 Mar 2026 04:52:29 GMT

I'm Tim and still a little new to TurboTax (year 2 after a 15-year break). I have some transactions on a 1099-B that are of an "Undetermined Term" that the TTDW Import process and I are confused about. Below are the sections involved in the tax package and the questions TTDW Smart Check is asking that I'm not sure how to answer. Any help will be appreciated.

TIA

- Tim

Re: Ameriprize 1099-B Undetermined Term Smart-Check questions

DavidD66 — Sun, 27 Feb 2022 23:03:42 GMT

You need to provide an acquisition date and a cost basis for each asset sale. If you don't have the acquisition date, or there are multiple acquisition dates, use "Various". You will need to determine the cost basis. Even though it's not on the Form 1099-B, your broker may have the information, so check with them first. If you inherited the assets in question, then your cost basis is the value on the date of death. Historical stock, mutual fund, ETF prices are available on a multitude of investment related web sites. If you can't determine the cost basis, or a reasonable method to estimate it, you will have to use $0.00. If you do not enter an acquisition date in TurboTax to go along with the sales date, the program cannot calculate whether the gain/loss is long or short term - you will have to determine that. If the acquisition date is not on the 1099-B, it probably longer term. The Code to use for Long Term transactions reported on Form(s) 1099-B showing basis was not reported to the IRS is E. For short term it is B.

Re: Ameriprize 1099-B Undetermined Term Smart-Check questions

MARC1TIM — Mon, 28 Feb 2022 00:01:05 GMT

Thanks! It is not inherited. I also have an email into our rep, so I'll see if he knows or can find out. Although I find it hard to believe info this critical would be left out of a 1099-B without a good reason or a well-known answer from the company.