How do I
enter a large number of stock transactions in TurboTax Online?
TurboTax Online is equipped
to handle around 500 individual transactions (give or take) per brokerage
account before performance starts to deteriorate.
If you need to enter a
bunch of stock transactions with a total sales volume of less than $10,000,000
(ten million), you can enter a summary for each sales category. Instructions
follow.
Another alternative is
to switch to the TurboTax CD/Download software which
handles around 2,000 individual transactions per brokerage.
How to enter a summary in lieu of
individual transactions
Your brokerage statements
should include a summary of your transactions, grouped by sales category, for
example "Box A short-term covered" or "Box D long-term
covered". You'll enter the summary info instead of each individual
transaction.
1. Open
your return in TurboTax Online (if it's not already open) and search for stock sales in the upper-right
corner.
2. Click
or tap the "Jump to" link in the search results.
3. Answer Yes to both Did you sell any investments? and Did you get a 1099-B?
o If
you land on Here's
the investment sales info we have so far, select Add More Sales. Then
answer Yes to Did you get a 1099-B?
4. On
the Choose Your Bank or Brokerage import
screen, select I'll
type it in myself.
5. Select
or enter your brokerage on the next screen and continue.
6. On
the following screen (Tell us
about...) select the second option, I'll enter a summary.
7. On
the same screen, enter the total proceeds (sales) and cost basis, along with
the sales category. Refer to your 1099-B for the amounts and category. When
finished, select Done.
8. Follow
the onscreen instructions to enter additional sales or to view a summary.
When you are done entering
all your sales transactions, you'll eventually come to the Here's the investment sales info
we have so far screen. Here you can edit, delete, or enter
more sales.
Related Information:
·
How
do I switch from TurboTax Online to the TurboTax software?
