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- Exceed $1 billion limit on Schedule D?
Exceed $1 billion limit on Schedule D?
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Kevin1616
Level 1
05-22-2021
12:51 PM
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I just took on a new client who was a high-frequency trader last year. He has a 1099-B with proceeds and cost of roughly $1.5B (net gain of around $100k).
I put in all of the sales (the ones with wash-adjustments, anyway) but the 1099-B worksheet, and Schedule D itself, are limiting the totals to $999,999,999 with a red error message that it cannot display anything larger.
If it was just the 1099-B worksheet I could break it up into multiple submissions, but I'm not sure how to handle Schedule D - I can't create a second Sch D that totals the correct amounts. Do I fudge the proceed/cost amounts to ensure the net gain matches? (and attach a statement explaining it)? Any other suggestions?
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1 Comment 1
Jim-from-Ohio
Level 11
05-24-2021
12:50 PM
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the schedule D input screen flows through eventually to schedule D so I would break them apart on the input screen
