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The Form 1099-B that you receive might only report the sale date and sales proceeds. If it does not report the date acquired or cost basis, you still need to enter that information when you report your Form 1099-B in the TaxAct program so that it will transfer to Schedule D and/or Form 8949. The Cost or Other Basis is generally the cost you paid for the property, plus purchase commissions, recording or transfer fees, and any improvements, minus depreciation, amortization, and depletion. The Date Acquired is generally the date you acquired the asset (or the trade date). If you didn't keep the documents involved in the transaction, you will need to get the information from your broker. For more information about Form 1099-B, go to the IRS Instructions for Form 1099-B.


Report your Form 1099-B information, and enter your 1b. Date acquired and 1e. Cost or other basis (if you need help accessing Form 1099-B in the TaxAct program, go to our Form 1099-B - Entering into TaxAct FAQ):

  1. From within your Form 1099-B, on the screen titled Investment Sales - Transaction Details, click the data entry field below 1b. Date acquired, and type the date acquired.
  2. On the screen titled Investment Sales - Transaction Details, click the data entry field below 1e. Cost or other basis, and type the amount.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.


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