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NMO
New Member

TurboTax Deluxe says not designed to import over 3000 financial stock transactions from my financial institution.Says ask for a refund.Any other products recommended?

Any suggestions, maybe using Quicken to import but can Turbo Tax handle that?

1 Best answer

Accepted Solutions
LisaBr
New Member

TurboTax Deluxe says not designed to import over 3000 financial stock transactions from my financial institution.Says ask for a refund.Any other products recommended?

This is a suggestion that may not be appropriate in your situation.  Is there a way to group your transactions by trade type such as short-term covered; long-term not covered, etc.?

Please see the following instructions to enter your totals.

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:

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 and go to the 1099-B screen.
  2. Answer Yes to both Did you sell any investments? and Did you get a 1099-B?           

    3.  On the Choose Your Bank or Brokerage import screen, select I'll type it in myself.

    4.  Select or enter your brokerage on the next screen and continue.

    5.   On the following screen (Tell us about...) select the second option, I'll enter a summary.

    6.  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.

    7.  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.

View solution in original post

2 Replies
LisaBr
New Member

TurboTax Deluxe says not designed to import over 3000 financial stock transactions from my financial institution.Says ask for a refund.Any other products recommended?

This is a suggestion that may not be appropriate in your situation.  Is there a way to group your transactions by trade type such as short-term covered; long-term not covered, etc.?

Please see the following instructions to enter your totals.

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:

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 and go to the 1099-B screen.
  2. Answer Yes to both Did you sell any investments? and Did you get a 1099-B?           

    3.  On the Choose Your Bank or Brokerage import screen, select I'll type it in myself.

    4.  Select or enter your brokerage on the next screen and continue.

    5.   On the following screen (Tell us about...) select the second option, I'll enter a summary.

    6.  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.

    7.  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.

View solution in original post

drhoek
Returning Member

TurboTax Deluxe says not designed to import over 3000 financial stock transactions from my financial institution.Says ask for a refund.Any other products recommended?

I'm using TurboTax Premier on a Mac and hit this limit this year. I tried doing the process of grouping 1099Btransactions idea and planning to mail in my 1099 which ran to 100 pp. Then I tried creating a new Return and before I did anything other than adding personal information and saving the return. I tried downloading from the brokerage and it was slooooow, but it worked. Now I have a return with all the info downloaded and I could start backfilling data. I completed the 2 returns in parallel, since the "no download" return has the linear information from 1996 to now contained in Turbotax. It was tedious, but it worked. The worst part was how slow it was to save but then I'm running a 2013 iMac. In the end, it transmitted the return with the brokerage download just fine. Hope this helps someone else who runs into this limit. 

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