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Importing cryptocurrency into TurboTax Desktop program

There are multiple ways to upload a CSV of your digital asset info into TurboTax, depending on your situation. Follow these steps to find out what’s best for you.

1. Identify your sources
• Know the exchanges (like Coinbase), wallets (like MetaMask), and blockchains (like Ethereum) with which you had digital asset activity (like buying, selling, holding) in 2022
2. Identify if you did any of the following in 2022:
• Bought, sold, or converted crypto
• Sent digital assets from one source (like a wallet) to another
• Bought, sold, or minted NFTs
• Invested in DeFi (Decentralized Finance) instruments (like staking or lending)
3. Check if TurboTax supports your sources
• Gain/loss CSVs (1099-B): Coinbase, CoinTracker, Robinhood, TaxBit
• Supported transaction CSVs: Binance.US, CashApp, Coinbase, Coinbase Pro, PayPal, SoFi
4. Determine your next steps
• If TurboTax doesn’t support your sources, follow these steps to create your own CSV 
• If you have Coinbase and you participated in an activity besides trading crypto, we recommend using the Coinbase transaction CSV
• If TurboTax supports your sources, continue to step 5
• If you traded digital assets on Robinhood, then use the 1099-B CSV file provided by Robinhood
5. Sign in to TurboTax, and open or continue your return

Now that you have your .csv file we will be preparing it to convert to a .txf file. Your CSV file should have ONLY the following six (6) columns in this EXACT order

(headers are optional):

Your .csv file should look like this one below before you convert it to a .txf file. I put a header on mine, but it can be done without the header. 

Once you have formatted your .csv file and have all data in correct order then go to http://www.easytxf.com/upload#create to convert the .csv file into .txf file. 

Open TurboTax Desktop and start or continue with your return. Go to the file menu and select Import > From Accounting Software

Then we will choose Other Financial Software (TXF file) and click Continue.

The program will pull up the .txf file from your computer to import, if you have more than one it is important to only select the one you just created and downloaded and click Import Now.

This popup will come up (Not sure why we only imported 22 transactions) just click OK

On this next screen you can click on View Details to see what is imported into your return. 

A popup comes up with the numbers of transactions imported and you can scroll to see details. 

Click Import Now.

Clicking the + will show you 1099-B (transaction #) 

Click Done

Transactions will come through as Untitled, but you can name them but clicking on Edit 

Check the box I need to change the name or account number. 

Choose your Financial Institution in the dropdown or choose My bank/brokerage isn’t here and fill out the name of the Financial Institution

Click Continue

The next screen allows you to Edit/Delete transactions. 

Please be sure that you walk through each one and compare them with your document for any corrections that may need to be made.

If you are happy with the transactions, then just click Done.

Then you will get the summary screen.

You have completed the import of your .txf file and can move on through your return or repeat the process if you have more from other financial institutions.