Net gain in TurboTax does not match imported 1099B form

[MuMiX]

I have a 1099B form which shows a net gain of X for short-term, field A, form 8949... but when I import the form into TurboTax it shows a net gain value 6 times this value.  Any ideas how this can happen?  I am a high volume trader and I wonder if it did not import correctly but I'm not sure what I can do to try and fix it (other than going trade by trade... which is not an option as there are too many trades to process one by one).

Thanks for any ideas.

[ThomasM125 · Accepted solution]

It might be that the cost basis reported on the form 1099-B is not downloading properly. You would have to look over your investment sale entries in TurboTax for missing or incorrect cost basis reported.

You could delete the form 1099-B entry and manually enter it in summary form in TurboTax, then mail in your tax return and include a copy of the 1099-B transactions.

[MuMiX]

I like the idea of deleting the form, manually entering the summary information, and printing/mailing the 1099B in.  Thanks for the tip!

[MuMiX]

Found the issue - TurboTax does not let you input sales >= 10,000,000, regardless if it is at the individual sale level or even on the summary sheet.  Is it reasonable to put the wrong proceeds/cost basis numbers in the summary (correct net gain/loss though), and attach a statement explaining what happened, mailing that in with the 1099B?  Probably will just hire a CPA this year.