GeorgeM777
Expert Alumni

Get your taxes done using TurboTax

 

@compiler...The desktop version does not have the feature to upload images or CSV files to autofill your crypto transactions.    The only way to import your crypto transactions in the desktop program is if your crypto financial institution is on the TurboTax Import Partner List.   If not, your crypto transactions can be summarized or entered individually in the Investment Income section of TurboTax Desktop - using the first subsection, Stocks, Mutual Funds, Bonds, and OTHER (crypto).

 

If you have a large number of crypto transactions and are using the desktop software, there is another option you can try out.    This will allow you to start your 2021 return in Online using your 2020 desktop tax file (*.tax2020), upload your crypto and finish the return using the desktop software without having to retype or re-enter any information.  

 

  1. Start a return in the Online software in the Self-Employed (any individual tax return will work with SE) product.  Use the ''Start for Free'' option as you will not be paying for or filing the return using TurboTax Online.  
  2. If you have a saved copy of your 2020 return as a tax file (*.tax2020), import that previous year tax file using the linked instructions (choose 'I used the CD/Download version last year') .   This will populate your personal information, previously used Schedules, AGI, carryover amounts, and other important details  from your previous years return.   A PDF file won't work; you need the 2020 tax file.    If you do not have a 2020 tax return to transfer in, you can skip this step, but your 2021 return won't have your 2020 data if you do skip this step.   
  3. Import or upload your crypto data.   You can connect directly to your exchange, take a photo of your transactions or upload your own CSV file.    Use one header row with only the 5 key column labels (description, purchase date, sold date, proceeds, and cost basis) at the top.   If you are using the file from the crypto exchange or aggregator, it may have something hidden or embedded in the header row that prevents it from importing correctly.
  4. Once you have all your crypto in TurboTax Online, you can use the Tax Tools >> Tools menu on the left side panel and click on Save your 2021 return to your computer link.   The 2021 tax file will download to your computer.
  5. Open that tax file using your desktop software and finish your return.   All of your previous year's information as well as your crypto transactions will included in the tax file (*.tax2021).

 

Keep in mind, a .tax file from a previous year won't transfer if the file is password protected.

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