Unable to create E-File (8879) with inherited asset

[Kea]

Client sold parents' house that she inherited. I entered "Inherit" in the date acquired field. (Actually, I just typed "I" and it auto filled the rest.) It knew to treat as long term capital loss. However, now that I have completed the return and printing it to send to the client, the Review is giving me a Red Error that the acquired date is not valid for e-file. It says I have to enter a specific date or "various."

Has anyone else run into this yet? Is there a work-around?

I guess I'll have to call tech support tomorrow.

Because it is giving this as an e-file error, it is not generating the 8879. So I can't get the client to sign, even though everything on the return is fine.

I guess I can change it to various just to generate the 8879.

Thanks

[GeorgeM]

Con't you just enter a date? Why inherit?

[Kea]

I thought inherited property always showed "Inherited" as acquired date. That way it is automatically Long Term (which this is, anyway). It also lets the IRS know that's how the property was acquired. But, I guess it wouldn't hurt to not show "inherited." I've never had a problem e-filing "Inherited" before.

I also noticed I can't seem to edit this field. It won't let me delete "Inherit." So I guess I just have to re-enter the asset & delete the original. Not a biggie -- it's just one.

(And, in this case, the date would be "various." She inherited 1/2 when Dad passed & 1/2 when Mom passed.)

Thanks

Edit: I could type a "V" over "Inherit" and it changed it. It was just the backspace that didn't work.

[Kea]

I talked to Tech Support and the software just won't let you e-file with "Inherit." If almost everything is e-filed and the software knows "Inherited" is a valid acquired date, I just don't understand why it's giving an e-file error.

I have never had a problem e-filing a return with "Inherited" before.

I'll keep this change to "various" because it doesn't change any data. Humm, any chance someone can get this "fixed" before I file my own return? I, too, sold an inherited house, and some inherited stock.

[DonnaA]

I have completed a 1040 and 1041 with "Inherit" as the acquired date. Both generated a Form 8879, and I successfully created e-files. They are in "Send Clients", but I have not yet sent them to the IRS.

[Kea]

DonnaA

That's good to know. I wonder what was different. The error message I am getting specifically says it will e-file with a specific date or "various."

Which version of the program are you using? I'm using TRX Pro.

Thanks

[DonnaA]

I am using TRX Pro 1040 Version 2010.8.10, getting ready to install Version 8.11.

[Kea]

I updated to 8.11 before submitting & got the same message. Odd.

[ed_accountant]

Change date from inherit to the actual date of death.

[Kea]

Yes, that works, but isn't really accurate. I did e-file it today. It's still at IRS.

[ed_accountant]

Well computers expect a date in a date field. When you override the date field with characters, you get an error.

[Don in Upstate NY]

Well computers expect a date in a date field. When you override the date field with characters, you get an error.

Not true in this case. Pub 1346 (2009 edition, Part 2, page 89) defines this field as character with the following allowed formats and literals

+0890 LT Date Acquired 1 8(b)1 8 YYYYMMDD, or "INHERIT", or "VARIOUS"

So unless they changed the definition for 2010, it's a bug.

[DonnaA]

I have completed a 1040 and 1041 with "Inherit" as the acquired date. Both generated a Form 8879, and I successfully created e-files. They are in "Send Clients", but I have not yet sent them to the IRS.

I have sent these returns to the IRS and they have been accepted.