If Charles Schwab is not listed then you will need to do the following:
TurboTax Online is equipped to handle around 1,500 individual transactions (give or take) per brokerage account before the performance starts to deteriorate.
If you need to enter a bunch of stock transactions with a total sales volume of less than $10,000,000 (ten million), you can enter a summary for each sales category.
Another alternative is to switch to the TurboTax CD/Download software which handles around 2,000 individual transactions per brokerage.
How to enter a summary in lieu of individual transactions
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." You'll enter the summary info instead of each individual transaction.
- Open or continue your return (if it's not already open) and search for stock sales.
- Select the Jump to link in the search results.
- Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?.
- If you land on Your investment sales summary, select Add more sales.
- On the OK, what type of investments did you sell? screen, select Stocks, Bonds, Mutual Funds, then Continue.
- When asked how you want to enter your 1099-B, select I'll type it myself.
- Answer the questions until you can select Enter sales section totals.
- You'll now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your 1099-B for the amounts and category. When finished, select Continue.
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