how to enter stock proceed if more then 999,999,999.99?

[88]

how to enter stock proceed if more then 999,999,999.99? it had a red light saying the amount i entered is too large.. but the total stock proceed is more than 3,000,000,000.. 

[Just-Lisa-Now-]

Hmm, the program seems to choke when you hit 1 billion....you sure you've got that many zeroes?

[88]

Yes, I am sure I have 10 digits, more than 3,000,000,000.00.. that’s why the red light is on… don’t know what to do…

[joshuabarksatlcs]

split the transaction in 4 or 5, specify it's 1/x of the transactions in the description.  I did it once a few years ago and it didn't cause any problem.

If the transaction had been reported to the IRS, its system likely would match to the total proceeds reported.

[88]

Thanks for your advice, that’s what I did too. I split it in 4 entries about 750,000,000 each., the first one is good and the calculations of net gain or loss is correct, when I enter the second one the error red light on, it said the number is too large…and it makes the calculation incorrectly…😢

[Just-Lisa-Now-]

I tested out doing it in separate entries and it still errored on the Sch D total gross proceeds, can you override that field? or will it just not take that many digits?

Im honestly not sure what the workaround for this is. 

You may need to prepare a Sch D and 8949 manually (you could attach to the return, but the chances of a human seeing it are slim), make sure your net gain/loss on the return is correct and be ready to send your manually computed forms and explanation letter in response to the CP2000 letter in a year or two when they tell you your gross proceeds dont match their records.

[88]

Thanks Lisa for your advice, I will try to override, if not.. I think all I can do is the attachment …

[joshuabarksatlcs]

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.

[88]

Very true.. clients get panic when receive CP letter, I will let him decide if he wants to do paper file.. thanks for you help!