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Level 2
April 1, 2021
Question

Value too large error

  • April 1, 2021
  • 1 reply
  • 12 views

So I am entering my trade information using summary for each sales category method. My cost basis and proceed value are large something like 40,000,000.. Turbo tax is throwing an error when I try to enter proceed saying "The Value is too large for this field, please enter a smaller number"? I already have form 8949 generated by tradelog, so do I just split the large cost basis/proceeds into multiple parts to enter in turbotax to get around the large number restrictions? 

1 reply

Mike9241
Level 15
Level 15
April 1, 2021

the largest number that can be entered in a field is 9,999,999.99

you'll need to split up the sale

Mike9241
carmarutiAuthor
Level 2
April 1, 2021

Interesting split up cost basis, adjustments and proceeds evenly to make sure they are within limits of turbotax? has anyone had any issues doing it this way before?