How can i use Turbo Tax to download info from Coinbase in order to report on a schdl D. I received a 2017 1099-K with a high amount and need to justify it to the IRS.

[GiseleD · Accepted solution]

Please see the original article here, or read on.

To access your tax forms in Coinbase:

1. Go to www.coinbase.com/tax-center (you may be prompted to sign in first).
2. Select 2019 next to Gain/Loss Calculator.
3. Download each individual CSV file from the list of cryptocurrencies (2,251 is the max amount of transactions you can do in TurboTax).

After you're done, sign in to TurboTax to upload your files (you'll need them to report any gains or losses).

Don’t download any transaction history files, as they won't work. If you experience issues downloading, please contact Coinbase directly. 

If your transactions exceed 2,251, you may need to work with a third party to to reconcile them. 

[sidleno]

This does not work turbotax import not working 

[BrandiLO]

For steps on troubleshooting Coinbase imports, please click here. If you prefer to speak with an agent, please click here to get in contact with customer care. Please be sure to enter the correct product, edition, and a detailed description of your issue.

[sphannon]

Does this feature work with the Windows version or is it TurboTax online only?

[Raph]

Unfortunately, Coinbase no longer supports the direct upload of your CSV file to TurboTax. The good news is, you can access your CSV file through CoinTracker instead, and get the same benefit. Take a look at "How do I get a CSV file from Coinbase?"

[dkysel]

Do I still have to pay additionally for CoinTracker report? I have over 25 transactions.

[BrandiLO]

Coinbase no longer supports the direct upload of your CSV file to TurboTax, resulting in an error message for some users.

Coinbase recommends using CoinTracker to calculate your cryptocurrency gains and losses and to access your CSV file.

[dkysel]

Do I pay extra for CoinTracker?

[ReneeM7122]

Here is a link that explains how to file cryptocurrency transactions with Turbotax.

As an alternative, you can enter up to 50 transactions manually or use a transaction aggregator.

Here is TurboTax article about Tax Tips for Bitcoin and Virtual Currency.

@dkysel

[Pauljmasse]

You’ve linked to an article that is about yet another company, not even coin tracker or coinbase. 
And you haven’t answered the question multiple times above regarding paying for Cointracker - why should anyone have to pay for TurboTax AND pay for Cointracker when Coinbase and TurboTax claim to be “partners” and indeed they have a discount together.  This is insane that people have been asking this question for many weeks and no good answer has been given whatsoever.  

[dkysel]

Exactly, sir, those “experts” are going to provide us with thousands links instead of giving simple answer for the simple “yes or no” question.

I can hire taxman in my state for $100 or so to do taxes but they are bad in crypto taxation that was the main reason I switched to TurboTax last year because of simplicity. Now it does not seem to be that simple like in 2020. 

UPD: just found that Bitcoin.tax gave me free report for my amount of transactions and it was successfully uploaded to turbo tax. 

[elonmusck9877]

Reported to bbb and ftc. Everyone do the same! Intuit has been abusing it's monopolistic power for way too long. The gov already knows how much we owe, but Intuit keeps on lobbying to keep filing tax complicated and difficult so it can stay in business and make billions from our time and suffering. how many lifetimes do we collectively waste every year just from typing W-2s into turbotax? and now we can't even report bitcoin transactions without stabbing ourselves in the left eye. We have no choice to but to file with Intuit or hr block and they know it. Watch hasan minhaj's episode "why doing taxes is so hard". Intuit provides 0 value to the society and should cease to exist. 

[r]