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cofelt
New Member

I sold 300,000 shares of stock but the Number of Shares Sold box limits the number to less than 100,000. What am I supposed to do?

 
6 Replies
ToddL
New Member

I sold 300,000 shares of stock but the Number of Shares Sold box limits the number to less than 100,000. What am I supposed to do?

As long as you enter the correct total Sales Price and Cost Basis, the number of shares you report doesn't make any difference. You can enter "100,000" or "1". 

If you are concerned about this approach you can also  make two more 1099-B entries, each for 100,000 shares sold on the same day with a Sales Price of "$0" and a Cost Basis of "$0".

The IRS is only concerned about the total dollar value of the transaction. The number of shares is entered as a convenience to you - it helps you in keeping track of your entries.

fbatakci
New Member

I sold 300,000 shares of stock but the Number of Shares Sold box limits the number to less than 100,000. What am I supposed to do?

Thank you for the explanation but what does not make sense is "The number of shares is entered as a convenience to you - it helps you in keeping track of your entries." if it is truly a convenience for me, why I am not able to enter the real amount? What is the reason for a text field to be limited to 100K??? Honestly, it does not make any sense at all.
fanfare
Level 15

I sold 300,000 shares of stock but the Number of Shares Sold box limits the number to less than 100,000. What am I supposed to do?

turbotax CD / download ( Deluxe version ) doesn't ask for the number of shares.
fbatakci
New Member

I sold 300,000 shares of stock but the Number of Shares Sold box limits the number to less than 100,000. What am I supposed to do?

I have TurboTax Premier (higher version of Deluxe) and sure it asks for the number of shares.
fanfare
Level 15

I sold 300,000 shares of stock but the Number of Shares Sold box limits the number to less than 100,000. What am I supposed to do?

I see that. I guess the added assistance is not so convenient
fbatakci
New Member

I sold 300,000 shares of stock but the Number of Shares Sold box limits the number to less than 100,000. What am I supposed to do?

Yes, it looks like. Thank you fanfare.
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