Scotty, I have a 2002 f150 v8 4.6l xlt automatic with the 4r70w transmission, I'm getting ready to re-install my rebuilt transmission into it but according to my local auto store the transmission takes 14 quarts of transmission oil and my question is? I know I have to put 5 quarts for start up but do I have to put 14 quarts of transmission oil exactly or 13 or 13.5 quarts to not damage my new transmission?
Put most, not all, of the required fluid in. Start the car and check the level at idle after warm up with car in park. Top up if necessary.
I have the same tranny on my 98' and the nice thing is, you have a dipstick for it. You can easily see what level it is at, and fill as needed. At first I would fill it a little low when you know you are getting close, then top it off if you want as you drive it some and get it good and warm.
As a side note, mine sure likes amsoil signature series ATF, that stuff has done great in all my vehicles, although it is expensive.