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ben031995
New Member

My total proceeds for my 1099 from stock trades is over limit. How do I fix this to submit through turbo tax?

My proceeds are over the 9,999,999,99 limit by about 5 million
3 Replies
JoannaB2
Expert Alumni

My total proceeds for my 1099 from stock trades is over limit. How do I fix this to submit through turbo tax?

Yes, TurboTax sets a $10,000,000.00(actually $9,999,999) limit in the data entry for Schedule D (capital gains and losses), but you can still enter the stock sales over the program limit.  All you need to do is to break them up into a series of smaller transactions or individual group of securities sales that should not total more than 10-million dollars, Turbo Tax program will accurately add up the group of securities on your Schedule D that will equal your stock sales.. You may group your stock sales  in 2-3 different securities.

ben031995
New Member

My total proceeds for my 1099 from stock trades is over limit. How do I fix this to submit through turbo tax?

So just to be sure, I can divide my Proceeds by half and submit those two times in order to fit it all and it should calculated the same?

JoannaB2
Expert Alumni

My total proceeds for my 1099 from stock trades is over limit. How do I fix this to submit through turbo tax?

Yes, you may divide it into 2 group of securities that will equal the amount of your stock sales without going over the program limit.  Please, message us back if these steps solve your issue.

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