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Our Private Foundation reports hundreds of stock sales every year. Up until 2020, I was able to enter total lump sum totals of the gains or losses on Part IV of the 990-PF, but now the program requires each sale be entered - it insists that I list each acquisition and sale date, I can no longer enter "various" or leave those lines blank.
IRS permits me to show lump sum totals (pg. 22 of 990-PF instructions), why doesn't Pro Series allow it?
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It doesn't allow you to just use 12/31 as the sale date?
Slava Ukraini!
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It does, but it still requires an acquisition date. I suppose I could throw in any dates to show lump sum short and long term gains/losses, the end result would be the same, but I hate putting in made-up dates, especially here, for a $10m PF where the 990s will be available for public inspection
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Using "various" for acquisition date is the norm for 1040s, but if it won't let you do that, plopping in a "made up" date isn't the end of the world. If someone is looking at a 990 on the public inspection side, I'm guessing they are more interested in the dollars rather than acquisition dates.
Slava Ukraini!
