Replace , from the string before passing the string to the parseFloat
If the string contains more than one ,, you can use ragex to remove all occurrences of the ,.
The regex /,/ will match the , literal from the string and g the global flag will make the regex to match all possible strings i.e. all the , from string.
var str = "1,722,311.75";
var nr = parseFloat(str.replace(/,/g, ''), 10).toFixed(2);
document.write(nr);
If the string contains only one ,, you can use replace with string to remove , from the string.
var str = "722,311.75";
var nr = parseFloat(str.replace(',', ''), 10).toFixed(2);
document.write(nr);
Note: replace(',', '') will remove only first occurrence of ,. See first code snippet for regex approach that will replace all the occurrences.