Schwab 1099-B - date acquired = 12/31/95

I have never concerned myself about dates. I am only concerned that the client could show that he owned it for more than one year and he could substantiate the cost basis. In your instance, it makes no difference what date you enter. Enter whatever you feel comfortable with. The answer is still the same.

It's true that as long as the date is more than a year before the sale it won't make any difference in the tax. But in case of an IRS inquiry or audit, might it make a difference whether the claimed basis was reasonably close to what the stock was trading for on the stated acquisition date? I would be inclined to use the actual date if the taxpayer knows it.

In TurboTax you should be able to change the imported date without having to actually override it.

Bob Sandler

tnx - my thoughts were to either : A - just match the Schwab 1099-B report date... and not cause any mis-matches B - put the real date in, and it was of course.. the real date

I think I'll just go with "A" - and add the "missing" cost basis, but not make any other flags pop up

Note that I said "he could substantiate the cost basis."