If import does not go smooth, I will suggest to manually enter info. For import, there are a limit on how many transactions TurboTax can handle. See blue links below. If there are too many transactions for import, program will crash or freeze.
To manually enter info, here are the steps:
In TurboTax online,
- Sign into your account, select Pick up where you left off
- At the right upper corner, in the search box, type in 1099b and Enter
- Select Jump to 1099b
- Follow prompts
- On-screen, "Let's import your tax info, select I'll type it myself
- Follow prompts to continue
For more information, click here:
how many stock transactions TT can handle
Import / crashed
After you enter the info, program will generate either a long term or short term capital gain or loss depends on how long the stocks are being held. The amount will be reported on line 7 of your Form 1040 along with a Schedule D and Form 8949. For more info from Robinhood, click here: https://robinhood.com/us/en/support/articles/how-to-upload-your-1099-to-turbotax/
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