Investing topics

TurboTax does not file WA state return, even with >$250,000 in Capital Gains

turbodb — Mon, 06 Apr 2026 05:12:25 GMT

Last year (TY 2025), I sold close to $500,000 in stock, nearly all of which was long term capital gains reported to the IRS.

This shows up correctly in TT for my Federal Return, but doesn't seem to register at all when I click in to State Taxes to work on my WA return. TT also completes its "State Review" with no errors, and says I am due a refund of $0 (and don't need to file a state return).

What is going on? How do I get TT to recognize that I owe WA cap gains excise tax on my cap gains?

Thanks!

Short term capital gain taxed excessively

dorox — Mon, 30 Mar 2026 22:50:31 GMT

Hello,

using TurboTax, when I added the short-term capital gain of 4,900 dollars, my taxed owed increased with aprox 8,000 dollars. My tax bracket has not changed when I added these 4,900 capital gain, we are still in the 32% bracket. Even with a NIIT tax, the amount owed could not increase more than 2k.

What could be the problem?

Thanks!

TurboTax Premier Desktop 2025: Broken Crypto Import Features & The Only Known Workaround

Walk_the_walk — Fri, 27 Mar 2026 23:58:44 GMT

Background: I am a former software programmer and software validation analyst. I did software support and testing for 10 years. We have been TurboTax customers for over 20 years, and I often have reported bugs in their code to them. In the last 2 years, the bugs were so minimal, I had nothing to report. This year, the DEV team has broken TurboTax Premier for all users with crypto transactions to report and the desktop version will not import crypto transactions. No method in that version works. However, the online TurboTax Premium version, which is single use, does not have this problem.

This article is being provided to help everyone struggling with this issue. We also hope that the TurboTax DEV team will get busy and release a patch to FIX this issue. If you have not yet purchased the desktop version of TurboTax Premier to do your crypto tax reporting, you should instead buy the online Premium version instead, thereby avoiding all these issues detailed below.

Platforms affected: TurboTax Premier Desktop 2025 (Windows & Mac) | Crypto tax software: SUMM (formerly Crypto Tax Calculator) | Tax year: 2025 (filed in 2026)

Written for the TurboTax Community Support Forum and shared with SUMM Support. Based on direct user experience, two days of troubleshooting, and confirmed research into TurboTax's own documentation.

The Problem: Every Crypto Import Method Is Broken in the TurboTax Premier (desktop) Version

TurboTax Premier Desktop is marketed as fully supporting cryptocurrency tax reporting, including capital gains and staking rewards. For tax year 2025, this claim is false in a very specific, show stopping way: every import method that crypto tax software users rely on is either broken, silently removed, or generates the wrong IRS form.

Issue 1: The TXF Import Generates the Wrong Form

TXF has long been the standard file format for importing investment data into TurboTax Desktop. Crypto tax platforms like SUMM export a TXF file, and users import it via File > Import > From Accounting Software.

In tax year 2024, this method silently generated a 1099-B entry, instead of the now-required 1099-DA (Digital Asset Proceeds From Broker Transactions). The IRS mandated Form 1099-DA for all digital asset transactions beginning with tax year 2025. Filing crypto transactions under 1099-B when the IRS expects 1099-DA risks form mismatches, processing delays, and potential audit flags.

This is entirely Intuit's failure. Koinly, another major crypto tax platform, confirmed publicly that TurboTax has not updated its TXF format to support 1099-DA, and that no crypto tax software provider can generate a TXF file containing valid 1099-DA data. Intuit had years of advance notice that 1099-DA was coming.

Issue 2: CSV Import Has Been Silently Removed

CSV import was advertised as a feature of TurboTax Desktop Premier and worked in prior years. In 2025, it errors out or is simply absent. TurboTax's own support documentation now states plainly: "Gain/Loss CSVs are no longer supported in TurboTax."

In community forums, a TurboTax representative acknowledged the issue and promised restored functionality by mid-February 2026. It is now late March 2026. The fix has not fully materialized. The product continues to be sold without disclosure of this limitation.

Issue 3: PDF Import Does Not Exist in Desktop Premier

Both SUMM's AI support and Koinly's published guide describe a PDF upload workflow that includes a screen offering "Enter a different way" followed by an upload option. Neither support resource discloses that this screen exists only in TurboTax Online Premium -- not in TurboTax Desktop Premier.

SUMM's own step-by-step guide for PDF import states explicitly at the top: "You will need your Summ TurboTax PDF report and a TurboTax Online account." That single sentence, easy to miss, is the only acknowledgment that the entire workflow is Online-only. Desktop Premier users who followed these instructions wasted significant time looking for screens that simply do not exist in their software.

Issue 4: The Online Bridge Workaround Cannot Save an In-Progress Desktop Return

Multiple sources -- including TurboTax's own community moderators -- suggest starting a free TurboTax Online return, importing crypto there, and then exporting the file to Desktop. This workaround is real and ultimately functional (see solution below), but it comes with a critical limitation that is almost never disclosed upfront:

Data entered into TurboTax Desktop for the current tax year CANNOT be transferred to TurboTax Online. The transfer only works in one direction: Online to Desktop. There is no merge or piecemeal import -- opening an Online-exported .tax2025 file in Desktop replaces the entire existing Desktop return.

This means any user who had already partially completed their Desktop return -- entering Social Security income, interest income, K-1 forms, 1099-Bs, trust distributions, and other items -- would lose all of that work if they attempted the Online bridge at that stage. We discovered this the hard way.

The Workaround: Step-by-Step

The following method is confirmed to work as of late March 2026. It requires abandoning your in-progress Desktop return and starting afresh via TurboTax Online Premium, then transferring the partially completed return back to Desktop. It is not elegant, but it is currently the only fully reliable path for Desktop Premier users who need proper 1099-DA crypto reporting.

IMPORTANT: Do this BEFORE you begin entering other tax data in Desktop Premier. If you have already entered significant data in Desktop, completing the entire return in Online Premium may be faster than starting over.

Step 1: Prepare Your SUMM Reports

Log into SUMM and go to the Reports page
Confirm your report period is January 1 - December 31, 2025 and tax settings are correct
Download the TurboTax - Capital Gains Report (PDF version) -- this is the file you will upload to TurboTax Online

Step 2: Start a Free TurboTax Online Premium Return

Go to turbotax.com and sign in or create an account
Start a new 2025 return -- select Premium when asked which version you need
You do not pay until you file, so this step is free
When prompted to transfer last year's data, upload your 2024 .tax2024 file from your computer to pre-populate your name, SSN, address, and carryover figures

Step 3: Import Your Crypto Capital Gains via PDF Upload

In TurboTax Online, go to: Federal > Wages & Income > Investments and Savings
Click Add/Edit next to Investments and Savings
Click Add investments
When asked to choose a crypto service, do NOT click Connect -- instead click "Enter a different way"
Select "Upload (Files from this device)" and click Continue
Drag and drop your SUMM TurboTax Capital Gains PDF into the upload area
TurboTax will process the PDF and extract your transactions automatically
If you see a NEEDS REVIEW flag: click the pencil/edit icon on any flagged transaction, then click Back without making changes. TurboTax will reload and correct descriptions will appear. This is a known TurboTax display bug, not a data error. You can correct these review flags individually, or in bulk. This is another minorTurboTax bug.
If the upload fails due to transaction volume: split your SUMM PDF into two smaller files and repeat this step for each file as a separate import session
If the first PDF version fails entirely, download the "TurboTax - Capital Gains Report (Alternate)" from SUMM and try that version instead

Step 4: Enter Staking Income Separately

Staking rewards (e.g., Solana staking income) are NOT included in the capital gains PDF and the total must be entered manually regardless of which import method you use.

In TurboTax Online, go to: Federal > Wages & Income > Less Common Income > Miscellaneous Income, 1099-A, 1099-C > Other Reportable Income
Click Start or Add
Select Yes when asked if you received other taxable income
In the Description field, enter: Crypto staking income - Solana (or whichever network applies). [Note: Some crypto tax will generate an Income Report and/or it will create a Schedule 1 Form. On Schedule 1, the total is found in Section 1, Line 8v.]
If you have other crypto income types such as airdrops, click Add Another and repeat for each
There’s another bug in TurboTax Premier: even after correctly entering your crypto reward total as Other Reportable Income, the Step by Step Interview Summary page may not show the value you entered onscreen. You have to switch over to Forms View to confirm the data is present in Schedule 1, Section 1, Line 8v. It seems that TurboTax has not coded their software for crypto rewards entry at all, and it works by happenstance.

Step 5: Export the .tax2025 File from TurboTax Online (Free)

Once your crypto data and staking income are entered in Online, export the file before paying anything:

In the left-hand menu, click Tax Tools
Click Tools
In the Tools Center pop-up, click "Save your 2025 return to your computer"
The file downloads as taxReturn.tax2025 -- rename it to something recognizable but do not change the .tax2025 extension
This export is free -- you are not required to pay to download this file

Step 6: Open the Exported File in TurboTax Desktop Premier

Open TurboTax Premier Desktop
Go to File > Open Tax Return
Browse to and select your downloaded .tax2025 file
TurboTax Desktop will open it and you will see your crypto data already populated
Continue completing your return in Desktop -- enter Social Security income, interest income, K-1 forms, 1099-Bs, trust distributions, and all other items
File from Desktop as normal

Step 7: Verify Before Filing

Check that your short-term and long-term capital gain totals match your SUMM Capital Gains Report
Check that your staking income matches your SUMM Income Report
Review Schedule D to confirm totals are populating correctly
Keep all SUMM reports saved as your audit documentation

What Intuit Needs to Fix

Update the TXF format to support 1099-DA so Desktop Premier can generate the correct form from third-party crypto tax software
Restore Gain/Loss CSV import functionality in Desktop Premier -- this was an advertised feature that was silently removed mid-tax season
Build the PDF upload workflow into Desktop Premier, not just Online -- or clearly disclose on the product page and at point of sale that PDF crypto import is an Online-only feature
Remove the undisclosed transaction limit on PDF uploads in TurboTax Online, or at minimum display a clear error message explaining the limit and how to resolve it
Update all support documentation and partner guides (SUMM, Koinly, etc.) to clearly distinguish which steps apply to Online vs. Desktop

Bottom Line for Other Users

If you bought TurboTax Premier Desktop for 2025 because you trade crypto, you were misled. The advertised import features do not work. The PDF upload workflow shown in all major crypto tax platform guides is Online-only. The TXF method generates the wrong form. The CSV method was removed.

The workaround above works, but it requires either starting your entire return fresh in TurboTax Online Premium, or completing the crypto portion in Online first before entering anything else in Desktop. If you start in Desktop first and get partway through, you will face a painful choice: re-enter everything in Online, or use the IRS-compliant Summary Method instead (enter short-term and long-term totals as summary figures and mail your Form 8949 as a supporting document).

Our strong recommendation for next year: If you have meaningful crypto activity, either start with TurboTax Online Premium from the very beginning, or use TurboTax Desktop but handle the crypto portion first via the Online export bridge before entering any other data.

Researched and written March 2026. Based on direct filing experience with TurboTax Premier Desktop 2025, TurboTax Online Premium 2025, and SUMM (formerly Crypto Tax Calculator). All steps confirmed functional as of late March 2026.

how download fidelity

user17741505475 — Sun, 22 Mar 2026 03:41:09 GMT

Roth

Nessie10 — Sat, 21 Mar 2026 00:02:48 GMT

In 2025 I had 30,000 in earned income my husband was retired and had no income.

We are filing married jointly based on our age we can contribute 8,000 into a Roth.

Question is can I do a spousal Roth 8,000 for my husband and another 8,000 for myself. Can I do both or just one for a total of 16,000?

Backdoor Roth

aznkk82 — Sat, 14 Mar 2026 21:06:40 GMT

So I did a backdoor roth of 7000 in 2025.

I filled in my numbers and I see IRA Distribution - taxable - 7000 .... Is this correct?

Too much capital loss on investments

aznkk82 — Sat, 14 Mar 2026 20:01:40 GMT

If i have a lot of capital loss in stocks, how can I use it for my taxes?
Can I only use it for capital gain? Can I use it for other things?
3000 a year won't allow me to use it up.

How to get a refund of a wrong Jio recharge?

Nehrup — Fri, 13 Mar 2026 19:14:59 GMT

To get a refund for a wrong Jio recharge, follow these steps:

1. **Contact Jio Customer Care**:

- Dial **199** from your Jio number or call **+91 8638-265721** from another number.

- Explain your situation to the customer care representative and provide all necessary details.

2. **My Jio App**:

- Open the My Jio app and navigate to the "Help & Support" section.

- Look for options related to recharge issues, and follow the prompts to report the mistake.

3. **Email Support**:

- Compose an email detailing your issue to Jio's customer support, including:

- Your Jio number

- Transaction date and time

- Amount and recharge plan

- Use the official support email found on the Jio website.

4. **Visit a Jio Store**:

- If online and phone methods don’t yield a response, visit your nearest Jio store. Bring any relevant transaction details.

5. **Document Everything**:

- Keep records of all communications you have regarding the refund request to support your case if needed.

6. **Follow Up**:

- If you don’t receive a response or resolution within a few days, follow up with customer care or visit the store again.

Refunds can take some time to process, so be patient while waiting for a resolution.

Unable to enter losses onto form 8949 without 1099 on desktop Home and Business

user17734234515 — Fri, 13 Mar 2026 17:50:44 GMT

Is there a way to enter losses onto form 8949 from cancelled shares that do not appear on a 1099-b?

Stock shares that became worthless in 2025 due to corporate bankruptcy but were not sold, therefore do not show up on a 1099-b.

This information should be able to be entered onto IRS form 8949. Manual entry into the form is not permitted and there are no links to enter the info without a 1099.

Is there a work around solution?

importing K1 .txf files

rilandon — Fri, 13 Mar 2026 13:37:59 GMT

Why does TT not check for existing K1s when doing a import of data? if I import this years data it makes a new K1 and does not use the existing one carried over from last year..

TurboTax does not know how to handle options

rilandon — Wed, 11 Mar 2026 19:41:16 GMT

If one sells an option and it expires it has a costs basis of $0 , yet Turbo tax keeps telling me I have an error and have to enter the costs basis.. I know I can force a work around, but this software should be able to understand that there are investments that have a $0 cost.

long term capitol gain tax issue

Bill0512 — Wed, 11 Mar 2026 15:20:16 GMT

I entered 1099-B showing a long term gain on sale of mutual fund. The fund was held over 12 months.

Filed as MFJ with taxable income of $69,000. The gain should be 0.00 tax. It shows on our 1040 form as income subject to tax. Please explain

Definition of Disney Collectibles for tax purposes

exsocal8 — Mon, 09 Mar 2026 23:35:30 GMT

I have a large collection of Disney trading pins. I have sold some in the past for a good profit per pin. My tax consultant stated that these sales qualify as collectibles and should be included on Schedule C. I'm concerned to do this because of the specific definition of collectibles. Any suggestions?

I sold some BRK.B this year at Charles Schwab

rsherry8 — Sun, 01 Mar 2026 16:31:33 GMT

I sold some BRK.B at Charles Schwab this year. As such, I would expect the sale to appear in the 1099 from Schwab, which it does. I imported the data into TurboTax and looked at the generated tax return. It does not show any sale of BRK.B. It is possible, but not likely I deleted the entry by accident.

I created a new dummy tax return and imported the data from Charles Schwab and only that broker. The sale of BRK.B showed up.

According to ChatGPT the BRK.B sale got aggregated. I do not think that is right and it should not have been aggerated but shown explicitly on form 8949.

What should I do?

Cannot File Tax Return — 1099-R Qualified Disaster Distribution Error (2025)

G8g — Sat, 21 Feb 2026 23:51:22 GMT

After doing multiple uodates in previous weeks and doing the last one this past Thursday 02/19/26, I’m still unable to complete my tax return because TurboTax Desktop is blocking filing in the Qualified Disaster Distribution worksheet after entering my 2025 1099-R. When I select “2025 disaster distribution” box in the Smart Worksheet, make the box red, and the program still won’t let me proceed and prompts me to review that form before filing.

This appears to be a software issue — the form isn’t recognized as complete/error-free even after entering all required details. Other users on the TurboTax Community have reported similar issues with 1099-R/disaster distribution blocking filing in this and previous years. Any fix available or date when this would be fixed?

Small amount foreign tax credit without Form 1116

user125562 — Wed, 18 Feb 2026 15:05:57 GMT

I received $29 Nintendo ADR with $4.4 foreign tax withheld reported on 1099-DIV. That's my only foreign income. Based on the US-Japan treaty, Portfolio Dividends (Individual Shareholders) is typically subject to a 15% reduced tax rate. I believe that's the rate applied to my foreign tax withheld.

One of the conditions to claim foreign tax credit without filing form 1116 is

All of your foreign taxes were: Legally owed and not eligible for a refund or reduced tax rate under a tax treaty

I'm a bit confused with this condition, which of the following two is right?

- I'm already paying the 15% and there is no other treaty to further reduce the rate, so I meet the requirement and I don't need to file form 1116 or

- The 15% rate I'm paying is a reduced rate because of the treaty, so I have to file form 1116 in order to claim the credit

If I cannot claim the credit without form 1116, can I just completely give it up and enter 0 for foreign tax withheld when entering 1099-DIV as I don't want to spend time on form 1116 for $4?

Thanks

Giving up small amount foreign tax credit

user125562 — Tue, 17 Feb 2026 04:40:43 GMT

I have a foreign stock ADR with $30 dividend and $4 foreign tax withheld reported on 1099-DIV. That's my only foreign income. If I don't want to deal with Form 1116 or Form 1040 schedule 3, is it allowed to just keep the $30 in total dividend but enter 0 for foreign tax when entering 1099-DIV in software and give up claiming the $4 foreign tax credit ? Thanks

Robinhood event contracts

user17703603655 — Mon, 16 Feb 2026 06:53:24 GMT

Does anyone know exact process to report robinhood event contracts on turbo tax online?

Cannot enter explanations in Line 52A of Form 5329T

paulrahn1031 — Fri, 06 Feb 2026 22:12:18 GMT

For my Beneficiary IRA I did not withdraw a sufficient amount to meet my RMD for 2025. I found the error today Feb6, 2026. I filed out a form 5329T form and asked for a waiver. selected explanation button. When I entered text of the first line, it disappeared when I pressed <R+TAB> or Enter. Vary frustrating. No error message. Tried to get help from Intuit Person help[ didn't know . Tried to get me to an expert and got disconnected. Long wait time so I am posting it here.

Turbotax vs ProConnect for Complex K1s

sg11sg — Fri, 06 Feb 2026 01:01:13 GMT

I am considering Private Equity investments, but I fear that the K1s will be complex and as a Do it yourself filer, I feel I will have to rely on a CPA going forward just for this single investment into a PE fund. The fund could take 7-10 years to harvest the investments. On querying online, the below is what I get i.e. Turbo tax is unable to handle complex K1s, and specifically as it says below "TurboTax is notoriously bad at tracking "Prior Year Basis" across multiple years of K-1s.". Can someone comment on any version of Turbotax being able to import K1 Pdfs and being able to handle complex K1s. And can I, as an individual who does taxes for family members, get access to Proconnect?

Technically, TurboTax can handle footnotes, but it does not "read" them for you. It treats them like a manual data-entry project. While the PE fund may send you a 50-page PDF, TurboTax will only ask you for about 5–10 specific numbers buried within those pages.

Here is the reality of using TurboTax for a complex Private Equity K-1:

1. The "Box 20" Gauntlet

When you enter your K-1, you will eventually hit Box 20. This is the "Pandora’s Box" of private equity taxes.

The Codes: You will see codes like Z (Section 199A), AA (W-2 Wages), or AH (Other Information).
The Prompt: Once you check those boxes, TurboTax will trigger a special interview screen that says: "We need some information about your 199A income." * The Search: This is where you have to open your 50-page PDF, hit Ctrl+F (Find), and search for "Statement A" or "Section 199A." You will then manually type in the "Qualified Business Income," "W-2 Wages," and "UBIA" numbers into TurboTax.

2. Where TurboTax Struggles (The "Danger Zone")

While it can handle the basic QBI (Qualified Business Income) data, TurboTax often falls short in three areas common to PE funds:

Multi-State Filings: If the footnotes show you earned $50 in 15 different states, TurboTax will require you to manually create 15 different state tax returns. At ~$50 per state for the software, the "convenience" cost often exceeds the price of a CPA.
Basis Tracking: If you are an employee making yearly $20k contributions, you must track your "Tax Basis" (the total amount you've invested minus losses/distributions). TurboTax is notoriously bad at tracking "Prior Year Basis" across multiple years of K-1s. If you lose your computer or switch software, that data is often lost, leading to massive tax overpayments when you eventually sell.
Section 163(j) Limitations: Many PE funds have "excess business interest expense." TurboTax often cannot handle the specific forms (Form 8990) required to carry these losses forward unless you use the "Desktop" versionand manually enter "Forms Mode."

3. Online vs. Desktop Version

If you are going to do this yourself, do not use TurboTax Online.

TurboTax Desktop (Premier or Home & Business) is the only way to handle this. It has a "Forms Mode" that allows you to see the actual IRS worksheet. You can right-click on boxes to see where the data is pulling from.
The Online version hides the math behind a "simplified" curtain that makes it almost impossible to troubleshoot if the footnotes don't match the summary.

The "Verdict"

Your time has a high hourly value.

Year 1: You can probably DIY it because there will be very little activity.
Year 3+: Once the fund starts selling companies, the footnotes will become a nightmare.

My Recommendation: Use TurboTax for Year 1 just to see the process. By Year 2 or 3, hire a CPA who uses ProConnect or GoSystem—software designed to "import" these 50-page PDFs directly from the PE firm's digital portal.