TurboTax is equipped to handle around 10,000 individual transactions per brokerage account. However, online performance may deteriorate as you get closer to this limit.
You'll enter the summary info instead of each individual transaction. Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered.
TurboTax will generate Form 8453. You can still e-file your return, but you'll need to mail a paper copy of your 1099-B to the IRS along with Form 8453, which you can print from your online account or from the desktop software within three (3) business days after you have received acknowledgement that the IRS has your return.
Mail the forms to the IRS:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
Select your product below on how to enter the summaries in TurboTax:
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