Capital Gain Tax, ESPP and Too many transactions
Mar 7, 2021
20 Comments
I am in a special situation that some of you are probably encountering too:
1) I traded way too much and Turbotax can’t import my fidelity transactions.
So they tell me I have to
a) Enter transactions 1 by 1. (Infeasible with 500 pages of transactions!!!)
b) Just put the totals.
2) I sold ESPP stock from my previous employer.
Those have a wrong reported cost basis and needs to be adjusted. So the totals are overreporting my gains.
So Turbotax says I should choose option a) because option b) would be wrong because of ESPP.
Since there is no way I will manually write 5000 transactions, what can I do?
Thanks in advance
comments
And next year keep your ESPP separate from your day-trading...
There’s also issues with rounding small tax lots up and down to nearest dollar - I don’t get it - you have precision to 2 decimal points (at least), why round it? Just shitty software...
In the grand scheme things, I doubt it will matter - my fear is that the IRS will do automatic / programmatic comparisons with efiling and you may be at higher risk for additional review if your numbers aren’t close (due to shit TurboTax software)