joshuabarksatlc s
Level 10
09-17-2021
12:36 AM
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I tried it on Lacerte. It took multiple transactions (5) up to 2,000,100,000 of proceeds then it started to mess up the Gross proceeds. The basis (under $2B) was okay. The gain was okay. all the individual transactions flowed to 8949 okay, even the gross was correct, but the totals on 8949 started to mess up at about $2.1B
I checked my old file, The transaction was for $1.2B. It was okay back then. It took two line items.
Because the net was correct, if I had this problem today, I would paper file it and type up the 8949 and Sch D. It's no fun when the client gets the CP-whatever love letter and has to pay me to draft the Dear IRS letter. I would ask the client to decide.
I come here for kudos and IRonMaN's jokes.