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Some of my shares bought up in 2010 but sold in 2011.
Would I put 'Various - Long Term/Short Term' in the H&R Block Online Tax or put the actual date the shares were bought in 2010?
There are separate forms for long term and short term so I am thinking you need to split out the shares on different forms/lines if held more than 1 year or less than 1 year.
So I am thinking you put the actual dates that you bought each block of shares and the HR Block app will know the split these appropriately onto the long term and short term forms. Various for buy date is OK if all the "various" fall into short or long term.
**I am not in the tax business nor accting business, so pls take my comments with a grain of salt. I do my own taxes each year with pen and paper using the IRS provided forms and I always fill out a Schedule D for stock buy/sell each yearshort term. This year it got a tad more complex with a new form that goes with the Schedule D.
As sware2cod said, you can put VARIOUS if there are multiple buy dates - just make sure you don't lump short term and long term together. You can use VARIOUS for short term also.
There are separate forms for long term and short term so I am thinking you need to split out the shares on different forms/lines if held more than 1 year or less than 1 year.
So I am thinking you put the actual dates that you bought each block of shares and the HR Block app will know the split these appropriately onto the long term and short term forms. Various for buy date is OK if all the "various" fall into short or long term.
**I am not in the tax business nor accting business, so pls take my comments with a grain of salt. I do my own taxes each year with pen and paper using the IRS provided forms and I always fill out a Schedule D for stock buy/sell each yearshort term. This year it got a tad more complex with a new form that goes with the Schedule D.
I use the H&R Block Online. If I have the actual dates then put that in even though it was in 2010? The 1099-B only has the date I sold the shares though.
As sware2cod said, you can put VARIOUS if there are multiple buy dates - just make sure you don't lump short term and long term together. You can use VARIOUS for short term also.
I can put VARIOUS but if I have the exact date from 2010, should I use that? 1099-B tells me if it is Long or Short term though.
I use the H&R Block Online. If I have the actual dates then put that in even though it was in 2010? The 1099-B only has the date I sold the shares though.
Put the date so HR Online can tell if short term or long term. Just because it is on the 1099, how would HR Block know if it is short term or long term? Does it ask or will it compute based on when you bought the stock? I assume it is computing, and this is why I suggest you put the Buy Date.
if the 1099 doesn't have the Buy Date, go through your transaction history of your brokerage acct to find the Buy Date and the Cost.
I can put VARIOUS but if I have the exact date from 2010, should I use that? 1099-B tells me if it is Long or Short term though.
Put the exact date if you have it. This leaves no room for error since we don't know how HR Block online identifies whether short term or long term that is shown on the 1099. HR Block might Id whether long or short based on the buy and sell dates. Unless HR Block asks you to enter the short/long term indicator from the 1099
Adding the buy date never hurts, though.
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