Check This Entry Form 1099-B Date Acquired ERROR

[shpramsh]

Yes, it worked for me as well. Thank you so much for the suggestions. It was a pain to modify all the transactions like that.

[angelasspa]

What if it shows a date already but still asked to be modified?

[angelasspa]

and when I try to review it it doesn't load

[DianeW777]

Before you try again be sure to clear the cache and cookies, as well as browsing history from your browser.  This retains pieces of information that cause bad experiences.  I would suggest to do no less than once a day or before you work on your tax return. This may help to load the page.

Once you have completed that, and if the page loads correctly and you have the same error, then you can change the date to 'Various' to see if it stops the loop.  Here are the instructions on how to do that.

Walk through the steps, as you can see from the image below, you must select the check beside 'Something other than a date'.

If you still have difficulty, make sure the date acquired reflects the correct holding period.  It's not important other than to have the correct holding period for the results to be calculated accurately for tax on your return.

• Long term is a holding period of more than one year and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
• Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate)

 

[jackexu10]

Can turbotax gives a warning sign on the stock list page so we know the date is missing?

[seojeong]

TurboTax should fix this issue. Especially since the problem is now known. Importing from Robinhood or Fidelity were fine (i.e. no problem converting "various" acquiring date) but Webull still has this issue. Based on previous posts, seems like TurboTax was able to fix the problem for Robinhood but not for Webull.  Please let  me know if TurboTax is working on this.

[e_salmons93]

I've done that 15 times and the issue is still there, it fixed nothing for me. I use webull so maybe that's the issue.. but it definitely needs fixed. this is getting really annoying. 

[KizzieKae]

I have tried this, to no avail. Why hasn't there been a fix especially since TurboTax is aware of this situation?

[ChondelLO]

@e_salmons93  Some users are reporting an issue after importing their 1099-B form. After receiving a Check this entry error message, they see the Date acquired field is blank.

To fix this, please manually enter your Date acquired info. You’ll then be able to continue through your return.

We’re currently working to resolve this issue. If you’d like to receive progress status updates, please sign up here.

Why is my 1099-B missing its acquired date?

[AdjusterOK]

This is still an issue that has not been resolved.

we spent 4 hours trying to figure this out between ourselves and 4 calls to TurboTax with still no resolution. If TurboTax feels this is a Robinhood issue then TurboTax needs to figure it out with Robinhood or let Turbo users know that they can’t use Turbo if they have Robinhood.

Very disappointed for the first tome with how Turbo is handling this issue that has been known for at least 1 month

[AdjusterOK]

The Various thing did not work either

[jkl20]

If you did like me, and repeatedly typed in a "date acquired" for a given stock sale, then you may need to do more work. I noticed when I did mine that TurboTax would always ask for the "date acquired" of the very last stock sale. If you deleted that one, then it would still ask for the "date acquired" of the second to last stock sale. And so on.

To make matters worse, I noticed as I was manually editing my stock sales, that some of the stock sales had the "date acquired" set to the one it was asking for, but TurboTax entered it into the wrong stock sale!

Essentially what this means is that you will have to manually go through every stock sale (potentially including the 'non-various' ones), and check that the date acquired is correct.

I postulate that if the "date acquired" of a stock sale is set to a date that is after the sale date, TurboTax won't proceed. Check to make sure all of your "date acquired" entries are dates that are before your sale dates.

[LinaJ2020]

The issue has been submitted and is currently under investigation.  To fix this, please manually enter your "Date acquired" info. You’ll then be able to continue through your return.  We are currently working to resolve this issue.  If you would like to receive an update for the progress, click on the following link to get notified:

Acquired date

The acquired date is important to define if the transaction is considered as long term or short term.  Any asset you hold for one year or less at the time of sale is considered “short term” by the IRS.  Capital assets that you hold for more than one year and then sell are classified as long-term on Schedule D and Form 8949. 

The net gain or loss from you Form 1099-B will show on line 4 of Schedule 1 and line 7 of Form 1040.  For more information, click here: 1099-B