Today, I was informed by TurboTax CD version that I cannot import from my
Fidelity account because the limit is 2000 transactions per account. However, I can import it with the online version. From web search, I was informed that the online version limit is 1500. I called TurboTax support, the representative said the on line version limit is 4000. Which one is true?
Since you got it from Turbotax support I would say the 4000 for online would be true. And the limit for CD would be 2000. They are 2 different products.
As an active investor - more than 2000 trades - be aware that your category Box A or Box D sales without adjustments do not require Form 8949, so there is no reason to import or key in those transactions.
Instead use the "enter a summary" option to put your numbers on Schedule D Line 1a or Line 8a.
No mailing is necessary.
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If you have wash sales, it gets more complicated since those adjusted transactions have to be itemized on Form 8949 and the summary totals adjusted accordingly.
Thanks. The problem is, without import available, I cannot import anything. It is almost impossible to enter all other items by hand.
My question really was, is the online TurboTax import limit 4000 or 1500? If it is 4000, I can use the online version even though it is not as preferable as the CD version.
Fuyun
I hope what she said is true. Still I think TurboTax should provide correct answer online as well.
I you want to "summarize" as I suggested above, get the subtotals for Box A and Box D from your consolidated 1099-B
Then go to the Stocks, bonds area in TurboTax.
TurboTax has an option to do it this way. It does not involve "Import".
IRS calls it aggregation.