Question

High volume stock sales

Forum|Forum|2 years ago
April 1, 2024
1 reply
0 views

I have more than 2500 stock transactions, apparently TT desktop is now limiting the import to be less than 2500 this year. In the help section, it mentioned a third party provider to generate schedule D, but when I click on the link to the instruction, it doesn't go to the article. Please provide the instruction.

"Use a third party provider to generate a schedule D and a form 8949 and enter the summary totals into your return. For details, see this article"

M

Mike9241

is supposed to be 10,000 per brokerage account. contact support

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-large-number-stock-transactions-turbotax/L7IFdQzko_US_en_US?uid=luhrixkd

using a third party provider does nothing because the PDFs generated can not be attached to your e-filed return.

or enter summary totals, and e-file your return.

then mail form 8453 with the 1099-B following the instructions on the 8453 9tTurbotax should generate form 8453 which must be printed) when you indicate with M multiple trades are reported on various lines

https://www.irs.gov/pub/irs-pdf/f8453.pdf

G

glhassanAuthor

Hi Mike,

Thanks for the reply. The import for desktop used to be able to handle up to 5000, but this year, it seems to say that it can only handles 2000-2500. Not sure why here it said 10k, maybe you can individually input 10k transactions? I purposely bought the desktop version for this, since I usually have around 4000 trades. I was very disappointed this year with the limit.

fanfare

Employee

As an active investor, be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.

Category A and D are the covered transactions.
----

---

the detail reporting rule (explained in IRS instructions) is :

a) covered transactions without adjustments do not require Form 8949.
b) covered transactions with adjustments (i.e. wash sales) must be detailed on some 8949 or your other forms in the manner of 8949.
--
If you aggregate a) no mailing is necessary. the totals appear on Schedule D line 1a or 8a.
If you aggregate b) or aggregate other categories (BC, EF) either attach details to mailed return or mail in the details after e-File. the b) totals appear on Schedule D line 1b or 8b.

@glhassan