Cryptocurrency Mining LLC Partnership Taxes

[ABP_Mining_Investments]

Myself and 2 partners started and LLC this year mining cryptocurrency. We all have full time jobs and this was a LLC started as a secondary business. We invested 30-35K+ into Ethereum mining equipment. I use Koinly to track all our income, cost basis, and mining deposits/transactions.

My questions is, I purchased turbo tax business desktop, and Koinly provides .csv file and a scheduled D form 1040 (capital gains and losses) as well as a form 8949 (Sale and other deposit assets) with all the transactions. However, I can't find any way to import these forms within Turbo Tax Business edition 2021, it only has an import quickbooks option. Am I doing something wrong? 

Any help is much appreciated. 

[Anonymous_]

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@ABP_Mining_Investments wrote:

Am I doing something wrong? 

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No. Import options in TurboTax Business, unlike the personal income tax preparation versions of TurboTax, are primarily limited to QuickBooks.

[Opus 17]

Congratulations that you are on the right track to get a proper partnership return prepared. At least you have gotten that far.

There is a separate QuickBooks support forum at Intuit’s website.  You might make inquiries over there. It might be possible to import your data into QuickBooks and then create a QuickBooks file to transfer the data to TurboTax. The professional version of QuickBooks can be expensive, but it would be a deductible business expense to you.  I don’t know if this is the best way to get your transactions into TurboTax, but it might be at least worth thinking about.