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Level 1

Question

CRYPTO SECTION NEEDS REVIEW

Forum|Forum|4 years ago
February 16, 2022
10 replies
9 views

STUCK

TurboTax Premier Online

JohnB5677

Level 15

Please clarify your concern.

What are you stuck on?
Can you identify the crypto section that needs review?
Are there any error messages that you see?
Did you run the Federal Review? This may detect a specific problem you didn't recognize.

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MZhun

Level 2

I have a similar issue:

I imported a crypto 1099 from a csv file from Robinhood

Needs Review shows items need updating

I update them but they dont clear

CarissaM

Level 15

@MZhun Are you using Turbo Tax Desktop or Turbo Tax Online?

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meanhorn

Level 2

I am having the same issue. I entered my crypto totals manually, as I have too many transaction for the csv file method. But when I go to file, it says that I need to review that section, but there is an endless loop of wanting me to review some thing which is already correct. The software is broken, is there any fix to it?

MichelleLO

Level 15

This is a known issue we are working to resolve. You can sign up for progress updates regarding this issue in the below TurboTax help article.

Why am I stuck in a loop in the Investment Income section when I choose "Walk me through everything?...

@meanhorn

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Bmlangness1

Level 2

Yeah for real, last year it was fine, this year i got 350 "Needs Review" I am about ready to just go under the raidar with my crypto this is insanity.

sad6

Level 2

1000% insanity. "Please review every crypto investment you made last year". I will, TurboTax, if you review every grocery item on your grocery receipts from last year. It'll take us both roughly the same time....

sad6

Level 2

@MichelleLO Replying bc this crypto review issue is still an issue and unresolved when attempting to file Federal taxes.

02/26/2022

noneofyourbusiness12345

Level 2

Yup, STILL not fixed. Come on, Intuit programmers, it's not THAT hard to fix... Sigh.

JJanvier

Level 2

I am also going through these issues; I requested help but did not receive support. Info on how to not review all my crypto? 305 to review.

AmyC

Level 15

Another option. The IRS expects each transaction looked at in case of any of the transactions were loss due to personal use, such as lunch at Starbucks or payments towards bills, etc. Loss on use of personal property should not be included on your return. The gains are included along with any transactions that were investment related.

If you want to do this outside of the program and then enter only two lines,

the total short term and the
total long term transactions that do qualify, that is an option.

If you do the summary, you can just mail a copy of your 1099B forms to the IRS. The program will give you instructions. The IRS expects every investor to have a spreadsheet. This is an example they used summer 2021,

@JJanvier

@noneofyourbusiness12

@sad6

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noneofyourbusiness12345

Level 2

This is EXACTLY the information the CSV form contains that I am importing into Turbotax (cost basis and everything). I should not have to enter this again manually 400+ times!!! This is a programming error, a bug. But meanwhile, I have found a better solution --- I filed my taxes with TaxAct. Less "guidance" by annoying algorithms, but way fewer bugs. After 3 years of an increasing amount of bugs, it's bye bye, Turbotax.

JUresti

Level 2

That's what I'm getting as well.

First year with crypto and I have to review about 200 entries that are only worth 0.0001 penny.

One line at a time.

This doesn't make sense for tax on a couple of pennies.

Sephto2

Level 2

It’s been 5

months and still no resolution. What is the point of intuit exactly?

r7m6biz

Level 2

Its Jan 20th, 2023, and I am getting this same issue on my 2022 taxes for turbotax online. I imported the transactions from Coinbase.

GeorgeM777

Level 11

Assuming you have no adjustment to make, go to the last screen in the Investment Section, and click Continue or Done which should clear the "Needs Review" flags.

@r7m6biz

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r7m6biz

Level 2

Thanks for the quick response. Nothing needs reviewing (I tried via filter and also went to every page to be sure) so I went to the last page and clicked Continue. The next option was Confirm so I clicked that and it takes me back to a summary of items but my crypto info has not been updated and when I go back to the Investments and Savings section, it still says "You haven't reviewed your crypto transactions yet."

641e18b8a87e

Level 2

Its needs review but it only says the fiat currency needs reviewed but reviewing it does nothing to get rid of it.

JamesG1

Level 15

After uploading a .csv file of cryptocurrency transactions, the mandatory Review message that I have seen is to answer the question How did you receive this investment?

Are you seeing that Review message? Please clarify.

@641e18b8a87e

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yazmnh87

Level 2

Is this being worked on? Is there a reference to track updates on a fix being implemented? Reviewing each interest payment that is under .01 one cent is not feasible, way too time consuming. @Here

DaveF1006

Level 15

No that is incorrect. Your entire PFML amount is taxable based on the full amount of contributions your employer paid. There are no percentage adjustments to be made.

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