Question

How do I import my cryptocurrency transactions into TurboTax 2021 Premier (DVD edition)?

Forum|Forum|4 years ago
February 3, 2022
1 reply
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Hi,

I'm using TurboTax 2021 Premier (DVD edition) on a Windows PC.

How do I import my 2021 Coinbase and Coinbase Pro information (CSVs), I do not have 1099-B forms as I'm below the $600 threshold.

H

HelenC12

You can use the cryptocurrency import feature with the TurboTax Online Premier and Self-employed versions, only.

One option is to start a free tax return in TurboTax Premier Online. You don't pay for the return until you file it, so you won't have to pay the Online fee. Enter (import) your cryptocurrency information in the Crypto section, and then save the .tax file (not PDF). You can then open the tax file in TurboTax desktop, add the rest of your tax data and file.

How do I save my TurboTax Online return as a tax data file? This FAQ will also have instructions on how to continue your return in the TurboTax CD\Download version.
How do I import from the .txf file?

The other option would be to file using the Online software and get a refund for the desktop program.

Related information:

Source: DawnC

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fanfare

Employee

@CA771

Don't give up on your TurboTax version yet.

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If TurboTax won't accept your CSV file, proceed as follows.

Adjust your csv files so the columns are in the same order as on Form 8949.

Put a header with your name tax year and SS Number

Use the summary option and then you can mail in the printout of the CSV files.
See the TurboTax instructions that will pop up.

You would use Category C and/or F since you don't have a 1099-B.

At tax time, you have the option to summarize your transactions by Sales Category.

IRS requires Box C/F details to be listed on your own Form 8949,
or on your other forms (e.g. spreadsheets) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your e-Filed tax return.

(OR, attach a PDF of the spreadsheet if TurboTax asks for it. so far, still waiting for TurboTax CD/download to add this feature).