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Level 2
Apr 1, 2021 6:12 PM UTC
Question

Value too large error

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? 

5 replies

Mike9241
Level 15
Level 15
Apr 1, 2021 6:35 PM UTC

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
Apr 1, 2021 7:28 PM UTC

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?