I am getting "Sales Price is not between the prescribed upper and lower limits" error when entering in the data from my Form 1099-B.

[Gracie Lou]

@fanfare , ah I see. That makes sense now. Thank you 

[Steven101]

Experts on this question seem not to understand that a common Turbotax online user is not wanted as a Turbotax customer if the data is being reported from Fidelity.  I am still waiting for Turbotax to address their deal with Fidelity which, because of the way Fidelity and other brokerages report data, necessarily results in the  problem with a wash sale and sale at a loss on Form 1099-B Worksheet.  Turbotax gives the response "Sales Prices is not between the prescribed upper and lower limits"  which is Turbotax's way of blocking you as a customer.  A Turbotax product expert had not been briefed on Turbotax's refusal of customers from brokerages yet.  And then a Technical Support expert from Turbotax informed me that Turbotax has no intention of fixing this intentional bug.  "Not that they don't want you're money, they just don't want your business."  Your are blocked from filing and blocked from fixing the negative values ourselves "for your convenience."   It's not that experts won't help, they can't.  Fidelity and the other brokerages are keeping the dirty secret that their advertizing for Turbotax sends customers into a pothole that the poor driver can't fix.

[dbrier2]

So I wanted to post this work around for the problem with a negative number. A Turbotax  tax expert who I worked with suggested  manually typing  in the "SUMMARY OF PROCEEDS, GAINS & LOSSES, ADJUSTMENTS AND WITHHOLDING" which is the front page of  summary form 8949. Instead of importing the form from TD Ameritrade  for all stock and option trades, the summary enter was accurate and correct which will be properly reporting gains and losses on Schedule D. No need to import that part of the consolidated statement with all the transactions.

[Toolup298]

It still throws the error up and it's not a negative number. If you have made gains the cost basis is always going to be less than the proceeds. I'm not fully understanding this one.

[fanfare]

@fanfare said:

"cost and proceeds can never be negative, 

you can't pay out or receive negative dollars.

only column(h) can be negative."

This is true, but some brokers like TD Ameritrade and Fidelity ( and others?)

will do exactly that.

I use TD Ameritrade and found this out this year.

You either get tax software that allows this, or you fix the trade data manually,
OR

as suggested above you use the summarize option (no details) and attach a copy of your transaction details in PDF format, or mail it in.

[Toolup298]

I called customer support and got an expert on the line. I talked through the error and it took over an hour to get to the bottom of it. The form has a limit on the dollar amount you can enter. If you trade on margin you know it doesn't take long for your cost basis to add up. Instead of entering the entire amount at one time I had to divide it up into 5 entries. It went through without error this time. Thank you very much Turbo Tax expert for your help. They actually ask me to send them my form until they figured it out. Great job!!!!