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ernandlo
New Member

There is no box 1b on 1099B form but Turbo tax insists on something being put there and it won't accept Blank

 
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2 Replies
HelenC12
Expert Alumni

There is no box 1b on 1099B form but Turbo tax insists on something being put there and it won't accept Blank

Blank is not a valid entry. Form 1099-B, box 1b is Date acquired. The IRS needs to know if the investment is short-term or long-term. This will affect how the investment is taxed. It may be taxed as ordinary income or taxed using capital gains rates.

  • If the 1099-B form is blank but you know the date you purchased or acquired the investment, enter the date.
  • The other option, if it's multiple dates, select the radio circle, Something other than a date and select Various.

Here are some other tips:

  • If you held the security for more than 1 year, then enter a  "Date Acquired"  that is more than 1 year before the date you sold the security.  
  • If you held the security for less than 1 year, then enter a  "Date Acquired"  that is less than a year before the date you sold the security (1/1/2015 will work).

 

If you aren't sure how long you held the security, try looking for the "Box" or "Code" on your 1099-B.

  • If Box A or B is checked, then the holding period was less than one year. 
  • If Box D or E is checked, then the holding period was more than one year. Source: RayW7
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Hermann18
New Member

There is no box 1b on 1099B form but Turbo tax insists on something being put there and it won't accept Blank

The letter on the Box is "X". According to the instructions on the back, Box 1b may be blank if Box 5 is checked (which it is "Non Covered Securities - Code X (unknown Holding Period") or if the securities sold were acquired on a variety of dates.

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