Can you guess at the date acquired when you have had a mutual fund for 20 years and gradually added to it?

    Cancel
    There's really no need to guess.  Basically all shares held for a year or more are long term, so if you are selling a big block of stock comprising many purchases all over a year old at the time of sale you can just enter the word "various" in the date acquired field.  When TurboTax reviews the sale it will ask if the holding period was long term or short term and you simply answer "long term".

    Tom Young
    • Thanks
    • In the situation described above, what is the cost or other basis? TruboTax is saying this is missing info.
    • While there's no need to input every purchase date in a sale of numerous lots as long as you can accurately divide the lots into long term and short term portions, there's no similar "hand waving" action available on the basis issue.  It comes from your records,  or you record $0.

      Tom Young
    • thanks
    Cancel
    Contribute an answer

    People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

    1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
    2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
    3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
    4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
    5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.
    Cancel