TurboTax - Schwab acquired date = 12/31/95

Hi, ps56k.

If it were my tax return, I'd put on my 1040 what I know to be the actual dates. Let Schwab explain to the IRS where their dates came from. ;^}

RC

-- R. C. White, CPA San Marcos, TX (Retired. No longer licensed to practice public accounting.) snipped-for-privacy@grandecom.net Microsoft Windows MVP (2002-2010) (Using Quicken 2012 Deluxe R 5 and Windows Live Mail in Win7 x64)

For our TurboTax info and our Schwab 1099-B info they are showing some missing cost basis entries.

Each "missing" entry has an Acquired Date of 12/31/1995 I'm guessing that is a placeholder for Schwab dates going back...

Wondering if I should leave this date in TurboTax - 12/31/95 - or modify it (if I can override) to the actual date of like 1/4/84

Do not want to barge in on someone else's thread, but it is amazing how much angst is created among tax filers just trying to deal with these few missing elements in a download from a financial institution. I for one would be willing to pay more in taxes if they just made tax filing much simpler! This is ridiculous and totally unnecessary! (My 2 cents). Thanks to all the experts advising us here.

it's just that the gov is broke and trying to grap it's fair share from the various "holes" in the revenue stream.... like Cap Gains for selling Stocks... prior to this year, there was no record of the orig purchase, and you were "on your honor" for reporting when & how much you bought it.

For me, it looks like Schwab only has captured cost basis data back to

12/31/95 - so anything prior to that - for the cost basis portion - is up to me -

Like I said, I personally would be glad to give our government whatever they need if they just simplified the tax filing.

Hi, Jeff.

Be careful what you wish for! Haven't you heard of the Simplest Tax Return? It has just two lines:

1. How much did you make?
2. Send it in!

RC

-- R. C. White, CPA San Marcos, TX (Retired. No longer licensed to practice public accounting.) snipped-for-privacy@grandecom.net Microsoft Windows MVP (2002-2010) (Using Quicken 2012 Deluxe R 5 and Windows Live Mail in Win7 x64)