High volume stock sales

[glhassan]

I have more than 2500 stock transactions, apparently TT desktop is now limiting the import to be less than 2500 this year. In the help section, it mentioned a third party provider to generate schedule D, but when I click on the link to the instruction, it doesn't go to the article. Please provide the instruction. 

"Use a third party provider to generate a schedule D and a form 8949 and enter the summary totals into your return. For details, see this article" 

[Mike9241]

is supposed to be 10,000 per brokerage account. contact support

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

using a third party provider does nothing because the PDFs generated can not be attached to your e-filed return. 

or enter summary totals, and e-file your return.

then mail form 8453 with the 1099-B following the instructions on the 8453 9tTurbotax should generate form 8453 which must be printed) when you indicate with M multiple trades are reported on various lines

https://www.irs.gov/pub/irs-pdf/f8453.pdf 

[glhassan]

Hi Mike, 

Thanks for the reply. The import for desktop used to be able to handle up to 5000, but this year, it seems to say that it can only handles 2000-2500. Not sure why here it said 10k, maybe you can individually input 10k transactions? I purposely bought the desktop version for this, since I usually have around 4000 trades. I was very disappointed this year with the limit. 

[fanfare]

As an active investor, be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.

Category A and D are the covered transactions.
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the detail reporting rule (explained in IRS instructions) is :

a) covered transactions without adjustments do not require Form 8949.
b) covered transactions with adjustments (i.e. wash sales) must be detailed on some 8949 or your other forms in the manner of 8949.
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If  you aggregate a) no mailing is necessary. the totals appear on Schedule D line 1a or 8a.
If you aggregate b) or aggregate other categories (BC,  EF) either attach details to mailed return or mail in the details after e-File. the  b) totals appear on Schedule D line 1b or 8b.

@glhassan 

[glhassan]

Thanks Fanfare, I do have a lot of adjustments, so need to mail it in.. Just thinking, usually with programs/software we are moving forward (able to handle bigger data), especially now with the increase in computing power and the fact that trends in trading volume are going up, not down. It seems backward to now actually lower the import limit vs in the past 8 years. I mean my iPhone today can handle what a mainframe computer did 15yrs ago, but TT is actually got worse, it's a bit embarrassing.

[fanfare]

 "it's a bit embarrassing."

Clearly, Intuit has no shame.

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Meanwhile, complain to your broker, ask them why the won't give you two selectable reports to import:
transactions with adjustments and,
transactions without adjustments.

@glhassan