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Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

 
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16 Replies
jtax
Level 10

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

https://ttlc.intuit.com/replies/4926553

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Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

I am using TurboTax Premier DESKTOP version (not online). It limits to 3000 transactions import from brokerage. Shouldn't I be able to update the summary online and mail detailed transactions in paper mail to IRS? What's that procedure?
jtax
Level 10

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

Ok once you get to the "enter a 1099-B" interview the procedure is the same with the desktop software.

To get there click on the Federal Taxes Tab, Then the Wages & Income tab on the left, then click "I'll choose what I work on", then scroll and choose "Stocks, Mutual Funds, Bonds, Other" in the "Investment Income / 1099-B or broker statements section".

Then see the FAQ instructions.
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Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

What if I did not get a 1099-B ? I just need to file Cryptocurrency returns. I have more than 3000 transactions.

prakashbk
Returning Member

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

I am still not clear on the procedure.... I just enter summary of transaction totals in each category (such as Short-term covered, short-term not covered, Long-term covered, long-term not covered) in Turbo tax, File online using Turbo tax? Do I need to mail copy of detailed transactions to IRS, if so do I send entire tax return docket? 

jtax
Level 10

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

@prakashbk 

 

See this FAQ on how to enter

 

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-enter-a-large-number-of-stock-tra...

 

Yes, you need to mail in supporting information for each sale. I copy of the 1099-B should suffice. TT should tell you that and printout the form and address to include. See this prior discussion for more details

 

https://ttlc.intuit.com/community/taxes/discussion/what-exactly-do-i-need-to-mail-in-with-my-8949-fo...

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lw7223
New Member

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

I input  manually like what you said. The problem is after I saved, Turbotax said "you have entered nothing", even though if I expand the entry I see what I typed in. But when I tried to view it from the page listing all 1099b, it does not show up.  Strange

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

I am a TurboTax employee. If you deleted the form in the program and are still getting this error, go to File in the upper left-hand corner of the window, then click on Remove Imported Data and select the 1099-B forms and delete them. 

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

Any alternative software to TurboTax that solved this problem.  Unfortuntly,  TurboxTax does not accept the summary level for short and/or long term gain/loss when you have modifiers on your transactions (f, g, etc.).

 

Help? 

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

If I understand your question properly, the original post states that there are over 3,000 brokerage transactions.  TurboTax is able to import up to 1,500.  Here is a link that explains how to enter a large number of stock transactions in TurboTax Online.

 

If the box codes are blocking you from continuing, you might want to delete the 1099-B and start over.  Sometimes it helps to clear it out and start fresh.  Here's how:

 

How do I view and delete forms in TurboTax Online?

  • Open or continue your return in TurboTax.
  • In the left menu, select Tax Tools and then Tools.
  • In the pop-up window Tool Center, choose Delete a form.
  • Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

 

@taxstapp

prakashbk
Returning Member

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

I got the work-around, which was ok for last year's return. But it still requires that I need to print 200 pages of transactions and mail them to IRS, which is not exactly environment-friendly.

Also, since my financial institution reports everything in one file (consolidated report), now I need to enter other information (such as 1099-Div, 1099-int, Misc, etc) manually

My question is, when will Intuit fix software to address this? 

AkinaLO
Intuit Alumni

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

We are aware of this issue, but there is not a definite date as to when it will be corrected. 

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Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

I have a broader question...if these are covered transactions, why do all the 2000 transactions need to be uploaded to TT in the first place.  if they are covered transactions, why isn't the workaround to manually enter the TOTALs only?  That is probably under 20 numbers.  The IRS already has the detail as submitted by the brokerage company????

 

and aren't the files separate for the 1099-B vs. everything else? so that the int, div, etc. can still be uploaded but not upload the 1099-B with the 2000 transactions? 

Turbotax unable to import more than 3000 financial transactions from my brokerage account. How can I fill in Summary of the transaction and mail my transactions?

@taxstapp - TT doesn't accept the summary level when there are adjustments in Box 1f or 1g because that is the IRS requirement,.....

 

https://www.irs.gov/pub/irs-pdf/i1040sd.pdf

 

page 12 - left side 

 

Lines 1a and 8a—
Transactions Not Reported
on Form 8949 You can report on line 1a (for short-term transactions) or line 8a (for long-term
transactions) the aggregate totals from any transactions (except sales of collectibles) for which:
• You received a Form 1099-B (or substitute statement) that shows basis
was reported to the IRS and doesn't show any adjustments in box 1f or 1g;

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