GeoffreyG
New Member

Investors & landlords

The solution to your issue will be to "consolidate" your stock transactions into "blocks" of data summaries, such that you only have to manually type-in but a single entry manually, per different tax category (for example, Box A short-term covered, etc.).  When this is done correctly, you'll only have to make a few entries on your tax return -- and in the TurboTax software.

I've attached a series of screen-capture images to the bottom of this answer (simply click the images to open) that should help illustrate this principle in visual format.  In addition, there is a link here to a longer answer, recently provided to someone who had a similar question to yours (but in that case it was both a dollar amount net proceeds limitation, and a total number of trades problem).  However, if you read that other answer with an eye to the principle of consolidating data entries, you should obtain some useful information from it, directly applicable to your situation.  In other words, the principles (and solution) are basically the same.

https://ttlc.intuit.com/questions/3655831


Of course, it will take a little math on the part of the user (you) to implement, but this method is tremendously faster than tying to enter hundreds, or sometimes even thousands, of individual trades into any tax software program.  Besides, the IRS is only interested in your net totals (i.e., capital gains or losses, short-term or long-term), and not the individual trades themselves.

If you have further questions, encounter any difficulties, or just want to speak with a live tax expert who can walk you through your TurboTax entries (including the ability to screen-share with your computer), please feel free to contact us.  We would be happy to help you (and as a XXX customer, the call is free to you).  Here is a link where you can create a support ticket and reach us:

https://support.turbotax.intuit.com/contact/

Thank you for asking this question.

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