aja8888
Moderator Emeritus
Help please with 1099-B (sale of mutual fund)
On 1/6/2022 I sold a bond fund I owned since 2014. I received two 1099-B forms from my broker yesterday that spelled out the short and long term gains from this fund. Through my ownership, I had all dividends reinvested.
On the broker’s 1099-B’s, both “date acquired” blocks contain the word “various” as there were many transactions over the years due to reinvestment. The “date sold” block contains 1/6/2022 as it should.
On both the short and long term 1099-B worksheets (using H & R Block tax software), the “date acquired” block is looking for an acquisition date, of which there are many due to the reinvestment of distributions along the way.
I cannot leave this “date acquired” block empty as the software creates an error.
What is the appropriate way to complete this 1099-B reporting? Should I just use the earliest acquired date for each 1099-B? For instance, on the long term reporting, I could use the date I acquired the fund and on the short term, I could use the first date of the dividend reinvestment within the year of the short term ownership (which would be 1/16/2021)?
Any help here would be appreciated!
Thanks!
On 1/6/2022 I sold a bond fund I owned since 2014. I received two 1099-B forms from my broker yesterday that spelled out the short and long term gains from this fund. Through my ownership, I had all dividends reinvested.
On the broker’s 1099-B’s, both “date acquired” blocks contain the word “various” as there were many transactions over the years due to reinvestment. The “date sold” block contains 1/6/2022 as it should.
On both the short and long term 1099-B worksheets (using H & R Block tax software), the “date acquired” block is looking for an acquisition date, of which there are many due to the reinvestment of distributions along the way.
I cannot leave this “date acquired” block empty as the software creates an error.
What is the appropriate way to complete this 1099-B reporting? Should I just use the earliest acquired date for each 1099-B? For instance, on the long term reporting, I could use the date I acquired the fund and on the short term, I could use the first date of the dividend reinvestment within the year of the short term ownership (which would be 1/16/2021)?
Any help here would be appreciated!
Thanks!