The program has 2 limitations. One, is a transaction limit of 2,000 transactions. Second, On all returns, 1099-B Quick Entry Table Cost/Basis input is giving an error for values above 21,474,836.47.
Instead, you can manually type in a summary of one or all 1099-B forms. You can enter 4 lines and cover the form(s).
Enter the totals for each:
- short term covered
- short term non-covered
- long term covered
- long term non-covered
When you enter summary data only, you are required to send a copy of your 1099B to the IRS. Once you submit your electronic copy, TurboTax prints out a cover letter and instructions on where to send a copy of your 1099B.
@Jay2244
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