Importing crypto transactions - Excel

SmedleyJ — Sat, 08 Mar 2025 19:53:21 GMT

Is there a way to import an Excel spreadsheet of my crypto transactions? For a large number of small transactions, I've use "various" for dates in past taxes. Can I do that in TurboTax?

Re: Importing crypto transactions - Excel

JamesG1 — Sun, 09 Mar 2025 15:31:30 GMT

An Excel spreadsheet may not be imported but you may be able to report summary statements of your transactions.

For instance, your brokerage statements may include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered.

Print out the statement and create a .PDF of the the statement.

You will enter the summary info instead of each individual transaction. In TurboTax Premium Online, follow these steps.

Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Click the down arrow to the right of Investments and Savings.
Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
Click Add investments.
On the Let's import your tax info screen, select Enter a different way.
On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
At the screen Which bank or brokerage, enter the information. Click Continue.
Do these sales include any employee stock, enter No.
Do you have more than three sales, enter Yes.
Do these sales include any other types of investments, enter No.
Did you buy every investment listed, enter Yes. Continue.
On the screen Now, choose how to enter your sales, select Sales section totals. Select Continue.
At the screen Look for your sales on your 1099-B, select Continue.
You will now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your IRS form 1099-B, IRS form 8949 and / or Schedule D Capital Gains and Losses for the amounts and category. When finished, select Continue
You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
When completed, close the record and click Continue.
At the screen Now, we'll help you upload your 1099-B since the IRS requires a copy, browse and select your document. Select Continue.
When you upload your document, your filing instructions will not show that anything needs to be mailed in, and no IRS form 8453 will be generated.

Since you would be reporting summary information of long-term and short-term in separate statements, you may be able to use 'various' to report sales transactions.

Remember to retain the detail that supports the summary information should a tax authority have a question about the reporting at a later time.

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Importing crypto transactions - Excel

Re: Importing crypto transactions - Excel