Question

Where do we import CSV file from Koinly for crypto gains/losses

Forum|Forum|5 years ago
January 31, 2021
1 reply
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Koinly has a specific CSV file that you can download for TurboTax. I was wondering if anyone knows where to upload that information on TurboTax. Thanks

H

hiallas

It won't work because TurboTax is too lazy to fix and program their own software. You will be forced to enter each entry manually or pay a 3rd party software hundreds of dollars to do a simple calculation for them.

P

prototype777

Using TT premier windows desktop. After hours of trying Koinly, cryptotrader, and cryptotax I was unable to upload anything (csv file, txf file) from my personal wallet or anything useful from CoinBase (I needed my wallets included to have correct values) to TT.

Based on what I what I have read and heard it appears that only "cloud based" version of TT supports uploads and have a dedicated selection for crypto that the download/CD version of TT does not have.

Fortunately my taxable transactions are minable (less than 20), but I'll still need to generate a 1099 worksheet entering everything by hand to get my Sched D and Form 8949 updated since TT doesn't like overrides to add line items to these forms . What a pain.

My final assessment: TT Premier Desktop is a fairly expensive product (especially after adding in cost of state electronic filings) that has a major functionality issue (not handling crypto) that adds hours (if not days if one includes researching workarounds for capabilities that ).

Maybe I missed something, and if I see/find some better workaround or a way to actually import from one or more exchanges and one or more wallets I'll certainly share and update my experience.

As of now all I can say TT 2020 will be my last purchase on an Intuit product. Checked with an H&R block place, explained my situation to them, and it would have been about the same cost to generate and file my 2020 taxes plus saved me double digit hours of time on the computer.