TurboTax Premier 2018 - Windows (downloaded version).
Steps:
Import large volume Robinhood-Apex 1099-B
Get message: We notice you have more than 1,000 financial transactions to import. This may take several minutes and could cause TurboTax to run slowly.
Click OK
Click Import Now
<1 minute to import>
None of these apply to me --> Click Continue
TurboTax window goes 'Not Responding' for about a minute
Review sales --> Click Done --> Click Done
Attempt to File->Save --> Crashes and relaunches TurboTax with no error and changes are not saved.
Computer Info:
2015 Core i7 quad core - 16gb RAM
Any progress on this. I have the same problem, it seems that turbotax can't handle large downloaded transaction, does any one try other tax software, such as taxcut?
"I have transactions that have Disallowed Wash Sale amounts, which means I can't use Summary."
Not so, if you click the adjustments box and enter non-zero for wash sales disallowed,
TurboTax will mark your 8949 M (mail in election).
In that case you would print and mail in your entire 1099-B report.
If the number is not overwhelming, you can enter wash sales manually and then use the subtotals on the bottom of 8949 to reduce your summary values.
If you do that you can e-File and no mail-in is needed.
I highly suggest you use the Summary option instead of an import which is probably being blocked or hampered by your antivirus program ...
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.
I have transactions that have Disallowed Wash Sale amounts, which means I can't use Summary.
I have over 1000 entries on the 1099-B. If I wanted to manually enter everything, I wouldn't need tax automation software like TurboTax.
I do the summary option with wash sales for all my clients ... it can be done.
@Critter#2 do you submit or have them submit their 1099-B report via US Mail ?
I have a 1000+ page 1099-B, I would rather not mail it.
Also, we are discussing work-arounds, when I have already paid for a software product that is designed to handle this. The software needs to be fixed.
The issue is Robinhood import is new for this year. many are reporting problems with Robinhood's baby steps to get Import working.
1000 transactions is a lot. 1000 pages, hopeless.IRS has ways to accept your documents on electronic media.
The mail in election has always been Turbotax's default solution for very large numbers of transactions. ie they will say "working as designed".
For 2018, Robinhood used two different clearing houses so I have two separate 1099-B's. I was able to import the latter one (Robinhood Securities) successfully, but the earlier 1099-B (Robinhood - Apex) is the one that is causing the crashing. I actually have more transactions on the 1099-B that imported correctly.
If I try to import JUST the Robinhood - Apex 1099-B FIRST, upon attempting to Save, it doesn't crash, but it gives: Looks like we're having trouble saving your return. Please try saving again. Error: 567809"
Trying to import Robinhood Securities 1099-B and then importing Robinhood - Apex 1099-B, and attempting to Save causes a crash.
@fanfare no they do not ... professional programs can attach the 1099-B to the efiled return
@mkitlan you ONLY have to send the non covered pages since the IRS already has the covered information ... that will reduce the amount you need to send in ... when you enter the summaries make a line entry for each section.... short term covered & long term covered then ones for short term non covered & long term non covered ( and that is exactly what I call them).
that's not what the IRS instructions say, nor is it what the TurboTax instructions in the pop-up box say.
If you were right, hardly anyone would ever Import. non-covered transactions are unusual and becoming rarer.
Well I have been doing this for 5 years now and none of my clients have gotten a single letter.... if it works roll with it.
Can each catagory be summaries in one entry for multiple pages of transactions? 3000+ transactions.
Where would I put in the 1g disallowed losses? I know I will need to send in the statements.
It's March 22, 2020, and I am trying to do my 2019 tax return. I successfully imported 1099-DIV, 1099-INT, and 1099-B transactions from one brokerage firm. The imported data looks accurate & matches the paper documents provided by the firm. So, I tried to save my TurboTax file before moving ahead. BUT...
REPEATED FAILURES pop up showing Error 567809. Clicking on the "Click for Solution" link takes me to a useless TTax web page that says: "We're sorry. The page you requested could not be found." Aarrggh!
It's been a year or more ... and this STILL is not fixed?
There are 3 possible reasons why you may be having this error message. The third one below appears to be the issue you are having.
1. The file may be corrupted:
2. The location you are saving to has either moved, does not exist, or is corrupted:
3. You may not have Read/Write access privileges to the location you are attempting to save to:
No actually the problem was that there were too many transactions. They were actually 3000 transactions it needed to download and there is a limit at 2000. So the TurboTax file download truncated itself and cut it off. So I went back to the IRS rules regarding large files that are over the limit and did what they said to do so that’s all done I got the full refund and it’s all history now
Exact same problem, with exact same prompts.
Used purchased software from Costco this year.
Last year, I purchased online on TurboTax with similar Stock volume download with no problem.
This is not just a Robin Hood problem. I use a different brokerage and I'm having the same issue. This is a TurboTax problem. I'm using Home and Business. Never had this issue with Premier
For more information, please see: Error 567809 or 102348: Cannot save tax file or File not found.
Otherwise, click the link for more troubleshooting support.
If you are importing large volumes of trades, you may experience unexpected results. It may be more useful to use an aggregator and send in the details.
To import using TurboTax CD/Download, .TXF can be used instead. To import a .TXF, follow these steps:
Below are a list of Aggregator options in case you do have virtual currency transactions to report.
Using .TXF:
For more guidance on entering cryptocurrency, see: Entering cryptocurrency in TurboTax.
If any investment sale transactions are entered in summary, Form 8453 must be mailed in with the transaction detail within 3 days of submitting the return electronically.
Mail Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving
0254 Receipt and Control Branch
Austin, TX 73344-0254
How to file when you have more than 2,000 transactions ("Your request exceeds the maximum tax records allowed by Turbo Tax" error)