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?
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
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.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.