It depends. You may want to enter 'summary' sales manually if the import is not working for you. Combine your long term sales and short term sales then make two entries in TurboTax as Investment Income.
You can always use direct entry with summary totals. The only exception is wash sales, which must be entered separately, if you have any.
Holding Periods:
- Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
- Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate).
Your brokerage statements and/or your CSV file should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered.
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