coinbase - csv form

Forum|Forum|4 years ago
March 9, 2022
1 reply
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I enter in my coinbase csv form and when I go to check my federal it logs the sold crypto as errors - asks me to get a 1099-B from coinbase. I just grabbed the report it had on the site. Coinbase-2021-CB-TURBOTAX-GAINLOSS.csv

HelenC12

Level 15

The problem is that the IRS expects each transaction looked at in case any of the transactions were losses due to personal use, such as lunch at Starbucks or payments towards bills, etc.

Losses on use of personal property should not be included on your return.
However. all the gains are included along with any transactions that were investment related.

One option is to do this outside of TurboTax and only enter the total lines for short term and long term transactions that do qualify to be reported. Please see the TurboTax FAQ: How do I enter a large number of stock transactions in TurboTax Online?

Source: AmyC

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gculbertsonAuthor

Level 2

ok so it might just be easier to do this manually and look at the FAQs you attached?

HelenC12

Level 15

Yes, that way you don't have to edit all of the transactions. You'll have to delete the imported information because you won't be able to E-file with errors. To edit or delete what you imported, see How do I update or delete something I imported into TurboTax? Then follow my instructions to enter your transactions using "summary".

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