Schedule D: Line 16 does not include capital asset sales because you have exceeded the maximum number of sales supported for individual reporting. Since you have more than 4000 sales, you will need to remove some of the sales with additional requirements (for example, noncovered or wash sale transactions). They can be replaced by entering a summary and attaching a statement to your return with the individual sale details.
Not sure what to remove. All these are short term. held under 30 days. Can't seem to find how to fix. I was all set to Efile and last minute it stopped me given me this issue. I still don't know how to see how many I'm over.
entering a summary and attaching a statement to your return with the individual sale details.
how to enter the summary and on what form?
Any help would be greatly appreciated.
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You may enter the summary information instead of each individual transaction.
In TurboTax Premium Online, create a .PDF of the IRS form 1099-B to upload into the software. Follow these steps.
When I got a call from Turbo Tax help line, I was told it was unlimited sales entries. Then was told up to 10000 in Turbo Tax Premier per broker, so I upgraded. Still have an issue. I have a total of about 5500. I also have problems with my screen going blank. It just sits like that. It goes back and starts over as if I never entered any data.
I also noticed when doing a entry for broker it would say you have over 1000 entries and it was only 65. Seems to be an issues of it reading what it is doing.
Does anyone have a video link of how to do this summary please. Thanks again for the help in advance.
IRS requires details of your SELL transactions to be supplied on some Form 8949,
or on your other forms (e.g. consolidated 1099-B or spreadsheet) which have the same information and in the same manner as Form 8949.
Regarding stock and options, for Box A and Box D, only wash sales or other adjusted transactions have to be itemized on Form 8949.
The other transactions without adjustments can be aggregated. Report the sub-totals of cost and proceeds for those transactions on Schedule D Line 1a or Line 8a respectively.
If you have no wash sales, there will be no form 8949, No attachment is necessary. No mailing is necessary
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The correct solution is to use aggregation aka enter a summary.
TurboTax Online will ask you for a PDF copy of your consolidated 1099-B,so no mailing is necessary.
Otherwise, mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.
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Detail Reporting Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No mailing is necessary. No attachment is necessary.
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There is no exception for the other box categories.
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