1099-DA Form

[alonsotx]

Box 1D (Date acquired) is requiring a date but the form lists 'various'.   TurboTax is not allowing 'various' as an option.

How to proceed on this form when entering individual transactions?

Thanks.

[MelindaS1]

The acquisition date is used to determine if a sale of capital assets will be given long-term or short-term tax treatment; so you'll need to enter a value (or values, if using multiple sales subtotals) that accurately reflects whether these are sales of assets you have held for at least 1 year or not. If your 1099 does not report the necessary information, you'll need to rely on your broker records.

Assets held for over a year get favorable long-term capital gain treatment when sold, and so attention-to-detail could impact your bottom line - do all of the acquisition dates qualify as either all long-term or all short-term sales? If so, you can enter the most recent date to reflect that character across all the sale lots combined.

If some of the acquisition dates were at least a year before the date of sale, and some were within 1 year of sale, then you'll need to break those out separately, and report additional sales totals for the portion that is short-term in nature.

See: TurboTax - Capital Gains and Losses

[alonsotx]

All of the transactions are short-term but multiple acquisitions ( 3 separate dates) were processed before the sale for all was processed on a later date.  My question is that TurboTax is not allowing me to enter 'Various' in Date Acquired (1D), it's requiring a date.  Is there a way to override the required date format to enter 'Various?   If not, should one of the dates purchased be used as the acquired date?  On 1099-B for for stock sales 'Various' is an option. 

Thanks again.

[MelindaS1 · Accepted solution]

If you're certain all the sales are short-term in nature, enter the most recent acquisition date into the field to satisfy the requirement.