Question

How do I import my crypto csv file into Turbo Tax Home & Business

Forum|Forum|7 years ago
June 6, 2019
4 replies
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TurboTax Home & Biz Windows

For some reason, TurboTax has not yet included the crypto import feature in the cd/Desktop versions of TurboTax. It is only found in the online Premier and online Self-Employed versions of TurboTax.

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3

3d2ra2z

Good luck importing into the online version. Every time I try importing the .csv file from Bittrex, I get an error,
"Please make sure your CSV file has columns for Currency Name, Purchase Date, Cost Basis, Date sold, and Proceeds, then try uploading again."
It's either the crypto csv file is structured different than what Turbo requires or excell is messing with things or who knows.

C

CryptoTraderTax

If you traded on multiple different cryptocurrency exchanges, TurboTax does not have the ability to automatically build your 8949 because you need to have your cost basis and fair market value data for each trade.

To solve this problem, you can use one of TurboTax's cryptocurrency partners to automatically build and export your crypto tax reports that can then be imported right into TurboTax online.

C

CryptoTraderTax

You can still upload crypto information into the download/ CD version of turbotax.

File > Import > From Accounting Software > Other Financial Software TXF file.

You can automatically create your necessary cryptocurrency tax reports that can then be exported right into the CD version or the online version by using one of TurboTax's cryptocurrency partners. The process for uploading your transactions into the CD version is walked through in-depth in this article:

https://help.cryptotrader.tax/articles/2657181-turbotax-desktop-version-how-to-upload-your-data-with-txf-export-file

S

Souless44

Incorrect.. this only allows a .TXF file.. not the files provided by most crypto exchanges. It a failure on their part to say it supports something that it clearly does not. Or at least there should be a real work around.

A

ASP1628

I figured out how to do it using Coin Tracker. but it took a while.

In depth details from coin tracker found here

Using CoinTracker to file with TurboTax | CoinTracker Help Center

Step 1) Allow CoinTracker to have access to your Coinbase account. Once completed, in CoinTracker go to the "Tax Center".

Step 2) At the top make sure you are on the correct year. For me it is 2020.

Step 3) Scroll down and look for "Tax Reports", It has 3 tabs in that box and will be on "IRS Forms". Click on the "Tax Filing Software" tab. at the time of writing this you will see 4 options.

Step 4) Click "download" next to TurboTax online file. (Or what ever you are using. CD version for people who bought a physical CD of TurboTax.)

Step 5) Once this is done downloading, drag it from the folder it saved in (For me it was downloads.) into the drag and drop box on TurboTax.

This is a shortened version of the link I shared above. It has pictures. This is not financial advice and you should always consult a tax professional. (I am not responsible for any mistakes made. This is just what worked for me.)

Z

zekul9

Dear @ASP1628

Yes I'm pretty sure people have been quite aware of being able to use Cointracker to successfully upload the csv file, yet isnt that a paid service? That's exactly what is sneaky and annoying. How convenient that only a paid program works to upload a CSV file to turbo tax.

F

Flatman

Its 2021 and TurboTax Premier Desktop still does not have import support for Crytocurrency or CSV. When will this be fixed? If not, how do I get a refund on Turbox Tax Premier Desktop?