Is there a difference in maximum # of 1099B transactions between CD and download versions of Premier?

[Tax Amateur]

From what I can tell, it looks like turbotax has increased the number of 1099B transactions that can be imported to 10,000 (up from 3,000 previously).

Two questions:

1) are all 10,000 transactions included in the data sent to the  Fed/State when filing?

2) is this true for both the CD and download versions of the Premier software, or is there a difference between the two?

Thanks!

[VolvoGirl]

CD and Download?  Those are the same Desktop program, just how you install it.  Or do you mean CD and the Online browser version?  Those are probably different.  

[Tax Amateur]

I'm aware of installation differences; in the past there was a difference between the CD and download versions of the desktop software with respect to the number of transactions that you could import (and report).

"In prior years, the CD version allowed a higher number than the download version:

A short note about transaction limits

Importing [brokerage] data requires TurboTax Premier or better. Also, there are transaction limits when importing your transaction data (Form 8949 & Schedule D) with Turbotax Online and TurboTax CD/download software. TurboTax Online has a ≈1,500 transaction limit. TurboTax CD/downloadable software has a ≈2,000 transaction limit per brokerage account with a total sales volume of less than $10 million."

That said, it appears that the new limit is 10,000 transactions for either version (and probably the online version as well:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/[product key re...

[DoninGA]

@Tax Amateur 

See this TurboTax support FAQ for the number of transactions - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/many-stock-tran...

And - https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-large-num...

[NCperson · Accepted solution]

@Tax Amateur - note 

TurboTax CD/Download can also handle up to 10,000 transactions per brokerage, and you can enter the transactions on Form 8949 using summary data from your broker statements.

it is not necessary (if you hit the limit) to report all the transactions to the IRS..... you can just manually enter the summary of each of the sections....

[Tax Amateur]

Thanks for the links 👍

[fanfare]

Detail Reporting Exception alluded to above is as follows: 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.

There is no exception for any other categories on Form 8949.

If you import transactions details they will be (or, should be) sent with your tax return.

Note: in prior versions TurboTax had started to hide certain imported transactions (not entirely consistent with the exception) using a rule that was undocumented and possibly contrary to your intent.

It remains to be seen what the new version of TurboTax will do.

@Tax Amateur