I need to report "undetermined term transactions for noncovered tax lots" On the 1099B, it does not show a date acquired, the cost basis nor the gain or loss. And the only option in Turbotax under type of gain or loss is short term or long term. No option for undetermined term. How do I enter this?
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Enter a "Date Acquired" that results in the appropriate holding period - short term or long term.
If you know the date you acquired the security, you can enter it yourself, using the MM/DD/YYYY format.
If don't know the date, but know that you had held it for more than a year (long-term), you can enter a date that is more than one year before the sale date.
If don't know the date, but know that you had held it for a year or less (short-term), you can enter 01/01/2017 as the date acquired.
If the 1099-B does not report your cost, provide the "Cost or other basis" (Box 1e) from your records.
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