TurboTax Online is not equipped to handle that large a number of trades. It is able to handle approximately 500 transactions per brokerage account.
If you have 2000 or fewer transactions per brokerage account you can switch to TurboTax CD/Download. and import the transactions.
If you would like to switch to TurboTax CD/Download, please click here for information on how to do this.
If your total sales amount is less than $10,000,000, you can enter a summary for each category of sales.
It is acceptable to enter the trades in summary form in TurboTax. The details should be sorted by short-term, one year or less, and long-term, greater than one year.
Then, mail in Form 8453 and your transaction detail within three days of e-filing.
Thank you for explaining this.
I have one further question, is 1099-B an acceptable " transaction detail" attachment to be sent with 8453. Our 1099-B has all the details and our only adjustment are wash sales but it doesn't specifically have the W listed in front of each sale, it has a column that says
Is this acceptable to the IRS or does the attachment with detail explicitly have to have the W code in front of each wash sale
Thank you very much for your time
Yes, the form 1099-B is an acceptable transaction detail.
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