To handle multiple acquired dates in Form 1099-B, Box 1:
I am having this issue, but when I went back and changed to various, where the 1099B edit page is, it still will not let me e-file. It keeps taking me back to fix return and wanting me to put in Date Acquired. If I put in the date or various it just keeps taking me back to the same page.
The software needs a date acquired because it has to be able to calculate whether the sales were short or long term transactions. The capital gains rate is higher for short term (a year or less). If it's blank on your 1099-B, it means the payer didn't have the information (probably because it was "various").
Look back into your records and enter a date. If it isn't exact then enter something close. Remember, the point is to ascertain if the gain is short or long term.
If you aren't sure how long you held the securities, try looking for the "Box" or "Code" on your 1099-B.
If Box A or B is checked, then the holding period was less than one year.
If Box D or E is checked, then the holding period was more than one year.
Ok, now what if I have to do this 164 times. Is there a way to automate this?
If you are having issues with importing your 1099, please see the FAQ link provided below for assistance with how to enter a large number of stock transactions in TurboTax. Please let us know if this resolves your issue or if you still need further assistance:
How do I enter a large number of stock transactions in TurboTax?
Sounds like turbo tax software doesn’t pick up “date acquired” as “varied” for m1finance (apex clearing) 1099-B’s. Talked to multiple reps, and there’s no solution other than spending an hour+ doing this manually one by one. Ugh.
There is a solution or alternate way to enter your 1099-B and be able to e-file. TiffanyL gave you a TurboTax FAQ link on how to enter a summary of your transactions. See the information below.
Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered.
You'll enter the summary info instead of each individual transaction. Select your product below for instructions:
Thank you, for clarification for anyone else with a roboadvisor nightmare, this is the process on the current website (2023):
1. Search for "stock sales" via search icon on nav bar.
2. Click "Jump to stock sales" link.
3. Click "Add Investment" button.
4. Click "Enter a different way" button.
5. Click "Stocks, bonds and mutual funds" card.
6. Type in bank or brokerage (click autocompleted result from dropdown) (e.g. Apex Clearing Corporation)
7. Answer some questions... "Do you have more than three sales on your 1099‑B?" Click "4+"
Will only have to add the totals and not each individual transaction. Upload your pdf for IRS record-keeping and you're done. Helpful!
If only the 4 different turbotax customer support representatives on the phone told me this, I could have saved a lot of time. Train your staff better!