there's no penalty. the truth is the irs has never changed its format. it just clarified it's changed nothing and the rules still are to show every line. i think this rule is made to prevent part timers from claiming trader status to be honest. the irs knows if you do 100k trades you're there every second. i'm been doing summary lines for ever and never one question and will continue. if its a problem i'll go prop and get a k-1.. i assure you llc guys with 20 traders don't report 20 million trades. its just cpa's trying to make money