Entering VARIOUS as Date acquired for digital asset transaction from 1099-DA

[v8899]

Is there a way to do this like we can do for stocks/mutual funds from 1099-B? I have a single sale on 1099-DA but it is composed of thousands of tiny chunks acquired over the years. They are all long-term. As per 8949 instructions, we should be allowed to enter the date as VARIOUS instead of reporting it on hundreds of pages of 8949. 

NOTE: Using TurboTax Premier 2025 on a Mac

[DianeW777]

Yes, you can enter it as one sale if all of the digital assets sold were held long term. Use a date that would indicate long term holding period, this applies the correct tax method and an accurate tax on your return.

• Example: 05/05/2022 Purchase -- Sale date 2025

Holding Periods:

• Long term is a holding period of more than one year (one year plus one day) 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)

[v8899]

@DianeW777 the problem is there is no way to do this in TurboTax Desktop. It will not accept anything other than a date in the "Box 1d - Date acquired" box. The online version allows you to select VARIOUS, but not in desktop. 

[DianeW777]

Yes, that's correct. You can enter a date that correctly identifies the holding period using my example. Choose a 'Date acquired' by making sure it represents the correct holding period. You do not need 'Various' as a selection, you simply need a date that will give your long or short term holding period so the tax calculation is accurate.

@v8899 

[v8899]

@DianeW777 

Sorry, while this workaround will work in terms of getting it into TT and resulting in the correct calculation, picking a random date is not what's specified in the 8949 instructions. It clearly states you should put "VARIOUS" in place of a date:

"If you sold a block of stock or digital assets (or similar property) that you acquired through several different purchases, you may report the sale on one row and enter “VARIOUS” in column (b). However, you must still report the short-term gain (or loss) on the sale on Part I and the long-term gain (or loss) on Part II."

Plus:

• The online version allows you to do this and works fine (see screenshot below)
• The desktop version also allows you to do this for non-digital assets like stocks and mutual funds.

So it seems the Desktop version should be enhanced to support this properly, at least to bring it in line with the online version. 

Screenshot of the online entry form:

[DianeW777]

If you would like to use a different process in TurboTax Desktop you can also make that selection. Follow the steps below to use the option 'Something other than a date'. 

To enter your sale in TurboTax, follow these steps. 

1. Open or continue your return.
2. Navigate to the investment sales section:
   • TurboTax Online/Mobile: Go to investment sales. If using this application, make sure it is open
   • TurboTax Desktop: Search for investment sales and then select the Jump to link.
     • Or Personal Tab > Continue > I'll choose what I work on > Scroll to Investment Income > Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other  (select Other)
3. Answer Yes to the question Did you sell any of these investments in 2025? 
   • If you land on  the Investment sales summary or Your investments and savings screen, select Add More Sales or Add investments.
   • Click this link for more information. Where do I enter Investment Sales?

@v8899 

[kamikaze41]

I found a way to insert Various for Date Acquired on the desktop version for Digital Assets.

1) Go to Forms (Upper Right)

2) Find Cap Asset Sales for the one you are working on. For me, it was label Cap Asset Sales (Coinbase)

3) Below this is Cap Asset Sales (1)

4) Click on the above.

5) Type "V" in the box you need Various and it should pop up.

I hope this works for you, it did for me.

[Grammarian56]

Yes, this worked for me. THANK YOU! (Annoying that TurboTax doesn't give desktop users the same simple functionality to indicate "Various" through the interview, requiring this tortuous--and torturous!--workaround.)

I'd like to add that on the same form where I entered "various" in the appropriate box, I also had to select the appropriate item in the drop-down menu for "8949 Box," which for me was Box L (for long-term digital asset transactions not reported to you on Form 1099-DA or Form 1099-B) in order to be sure my gain/loss was treated correctly. 

[user17750165076]

your workaround did the job. thanks!