TurboTax Active Trader Solution

TurboTax Import Limits

TurboTax Online

Active Traders with more than 500 broker transactions cannot import their data into TurboTax Online.

TurboTax Desktop (Windows and Mac)

Active Traders with more than 3,000 broker transactions cannot import their data into TurboTax Desktop Edition.

And many users report that TurboTax program performance degrades to the point of becoming unusable when you import more than 1,000 tranactions.

For additional information, see the below articles on the TurboTax support site:

  •   how-many-stock-transactions-can-turbotax-online-handle

  •   how-do-i-enter-more-than-500-stock-transactions-in-turbotax-online




TurboTax Alternative to Importing Detail Transaction Data

Instead of importing your transactions, you are instructed to enter "summary" transaction data into the TurboTax program. Note: If your sales volume totals more than ten million dollars you cannot enter your actual total amount.

You are then instructed to attach statements to your tax return which support the "summary" transaction data entered into TurboTax. If you electronically file, you are to attach the statements to Form 8453 and mail them to the IRS Service Center in Austin, TX.




How FORM8949.COM helps

  1. Form 8949.com will generate the required statements for printing and attachment to Form 1040 or Form 8453, if you file Form 1040 electronically.
  2. Using the instructions we provide, you can choose to import "summary transactions" which we create for you so the TurboTax program can report your total sales, cost, and gain or loss on lines 1, 2, 3, 8, 9, and 10 of Schedule D.
  3. The summary transactions we generate are automatically broken down into values which do not exceed $9,999,999.99 per transaction.



How to Import "Summary"" Transactions

Automatic import of summary transactions
  • If you have more than 500 transactions (2,000 for Desktop) and import from our OFX server into TurboTax, our server will automatically return summary transactions instead of detail transactions.
Manual import of summary transactions
  • To force the import of summary transactions, add "-2" to the end of your document number as seen below.




How to Assemble your paper-filed TurboTax forms

If you paper-file your Form 1040 and supporting schedules and forms:

  1. Inspect the Schedule D generated by TurboTax to make sure it has the same totals as the Schedule D generated by Form8949.com.
  2. Remove the Schedule D and Forms 8949 generated by TurboTax.
  3. Replace them with the Schedule D and Forms 8949 (and Form 8949 Statements, if applicable) generated by Form8949.com. These can be downloaded from the Download Results page in the app (see below). Click the button in the "Combined D, 8949, Stmts" column for your preferred reporting option. Option 4 will minimize the amount of paper you have to use.