Received 1099-B from Morgan Stanley and E*Trade. Two stocks I sold were reported as Unknown Term. Not sure what there issue is as the info was readily available in my account. Can I just fill in the information for acquisition date and cost basis myself or do I need a revised 1099-B from MS and E*Trade. Also under "Sales Section" for that Stock in TurboTax do I select "Unknown Term Basis Not Reported to IRS" and then check the box for "The cost basis is incorrect and missing on my 1099-B" while also filling in the date of purchase and the cost basis?
Yes, you can fill in the acquisition date and the cost basis yourself. In TurboTax you should select long or short term basis not report to IRS based on your acquisition date.
In TurboTax use the Search (upper right) > Type 1099b > Click the Jump to... Link
Scroll to the stocks that need your attention and make the necessary entries (acquisition date and cost basis).
Yes, you can fill in the acquisition date and the cost basis yourself. In TurboTax you should select long or short term basis not report to IRS based on your acquisition date.
In TurboTax use the Search (upper right) > Type 1099b > Click the Jump to... Link
Scroll to the stocks that need your attention and make the necessary entries (acquisition date and cost basis).