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wizb98y
Returning Member

Importing large 1099-B from gainskeeper crashes Turbotax Premier

I have about 250 pages of 2020 1099-B from TDAmeritrade and

I normally import them from Gainskeeper into Turbotax Premier.

I have done this in the past years (2019, 2018..) and have no problems.

Granted, I traded a lot in 2020 and have thousands of transactions more.

After importing (took like 10-15 minutes), turbotax then proceed to think

about it and then crashes. I restarted the program after saving just before

it bailed, it goes and do it re-computation and then crashes again.

You get the picture.

Basically, it choked on large 1099-B transactions.

Please help.

I can't possibly type in all the thousands of entries in Form 8949..

Know any tax SW product that doesn't choke on large 1099 imports??

 

10 Replies
wizb98y
Returning Member

Importing large 1099-B from gainskeeper crashes Turbotax Premier

One more info - hopefully this will be useful for

the developers fixing this problem, The import was

appeared to be successful but crashed on "Calculating:..

Also I have over 3000+ transactions (3020 to be exact..)

Hope this helps..

 

Screen Shot 2021-02-16 at 10.31.29 PM.png

SForrestLO
Intuit Alumni

Importing large 1099-B from gainskeeper crashes Turbotax Premier

This Turbo Tax FAQ will provide steps on troubleshoot and running TurboTax for Windows Troubleshooting Windows

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
its_rich
Returning Member

Importing large 1099-B from gainskeeper crashes Turbotax Premier

TurboTax Deluxe also fails for the Mac Download as well after importing a large number of 1099-B transactions.  The result is that TurboTax crashes every time it opens and fails to allow you to continue.  Re-installation does not remedy this, and I have been online with technical support for over 45 minutes to no avail.

 

You first get a message that states that there are over 1000 transactions.

We notice you have more than 1,000.png

 

Followed by: 

Oh dear. TurboTax ran into a problem and has to.png

 

WendyN2
Level 6

Importing large 1099-B from gainskeeper crashes Turbotax Premier

A simple fix to this is, If you are able to extract your year end statement and it provides you with totals of S/T vs. L/T transactions (you might even have 4 different categories on your statement - depending on if basis was/was not reported to the IRS, so be sure to not miss any sections of the statement), you should separate them out yourself on a spreadsheet, tally up the information for each category of transaction, and enter as such. This is, making sure, of course, that the firm you use is providing you with cost basis and sales price as well as #shs per transaction.

You can also extract to Excel, but that takes more work than step one. What the IRS is looking for is the following:

1. Net S/T Capital Gains/<Losses> , based on purchase date, cost basis, sale date, and proceeds
2. Net L/T Capital Gains/<losses>, based on purchase date, cost basis, sale date, and proceeds

In short, each section of your statement that has a total that states "Has Been Reported to the IRS", will be treated as one transaction for taxability purposes. So, if you have 1, 2, 3, or 4 of these totals lines, then that would be the corresponding number of transactions you will have. Make sure that you do not include any section that starts with "Transactions NOT Reported to the IRS" as these are categorized already by your brokerage firm for you as non-reportable pieces of information.

 

ALSO, make sure you do not miss any dividend and interest income, Foreign Income Taxes Paid, etc., if your statement is all you rely on to report your information to the IRS. 

its_rich
Returning Member

Importing large 1099-B from gainskeeper crashes Turbotax Premier

This suggested solution does not work in all cases.

 

You cannot import over a certain number of transactions, even in the online version of TurboTax Premier.

Screen Shot 2021-02-21 at 6.32.18 PM.png

Even if you instead enter sales totals, as suggested, the online version of TurboTax Premier will not let you enter certain sales totals:

 

Sales Section limit.png

 

Dead in the water.

WendyN2
Level 6

Importing large 1099-B from gainskeeper crashes Turbotax Premier

A simple fix to this is (and this is something that is encountered using even the most "sophisticated" of tax software systems), If you are able to extract your year end statement and it provides you with totals of S/T vs. L/T transactions (you might even have 4 different categories on your statement - depending on if basis was/was not reported to the IRS, so be sure to not miss any sections of the statement), you should separate them out yourself on a spreadsheet, tally up the information for each category of transaction, and enter as such. This is, making sure, of course, that the firm you use is providing you with cost basis and sales price as well as #shs per transaction.

You can also extract to Excel, but that takes more work than step one. What the IRS is looking for is the following:

1. Net S/T Capital Gains/<Losses> , based on purchase date, cost basis, sale date, and proceeds
2. Net L/T Capital Gains/<losses>, based on purchase date, cost basis, sale date, and proceeds

In short, each section of your statement that has a total that states "Has Been Reported to the IRS", will be treated as one transaction for taxability purposes. So, if you have 1, 2, 3, or 4 of these totals lines, then that would be the corresponding number of transactions you will have. Make sure that you do not include any section that starts with "Transactions NOT Reported to the IRS" as these are categorized already by your brokerage firm for you as non-reportable pieces of information.

 

ALSO, make sure you do not miss any dividend and interest income, Foreign Income Taxes Paid, etc., if your statement is all you rely on to report your information to the IRS. 

 

sv2345
Level 1

Importing large 1099-B from gainskeeper crashes Turbotax Premier

Seeing this issue also, on desktop Premier.  I have over 1000 stock transactions total, and about 25 RSU transactions that I have to update manually with cost basis.  Each RSU transaction entry freezes for a long time, eventually comes back, but it is taking over 20 min to update each transaction, on an 8-core processor with 32GB of memory.  I'm still in the middle of updating the RSU data.  I hope the software doesn't  choke on this data when I try to check and file, making this all a waste of time. 

 

Something tells me that a novice programmer used a bubble-sort algorithm in this code.

tax-user-ed
Level 1

Importing large 1099-B from gainskeeper crashes Turbotax Premier

I am also seeing this issue. I want to switch from Turbotax Premier 2020 online to desktop because it apparently can handle more than online, but I already paid for the darn thing online. Might need to get a refund.

fanfare
Level 15

Importing large 1099-B from gainskeeper crashes Turbotax Premier

@WendyN2 

your information is completely wrong

 

With one exception, IRS requires details for all sell  transactions...

That includes transactions in B or E category "basis not reported to IRS".

There is no exception for those categories.

ilygod
New Member

Importing large 1099-B from gainskeeper crashes Turbotax Premier

Hi.  I was wondering how you "reset" the Turbotax software so that the "Uh No" message doesn't come up.  How do you stop the "buggy message" from coming up and crashing the system?

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