How can the Crypto CSV template determine cost basis with only one Date field?

[bep156]

I'm attempting to input cryptocurrency transactions in a format that TurboTax and understand, but I'm having 2 issues:
1) The template and article do not clearly state what "date" should reflect; the purchase or sale date? 
2) How is it possible for TurboTax to determine cost basis if it only requires one date?

I'm using CoinTracking, which is not a supported vendor but CT does export various formats that the IRS would accept. I'm open to simply submitting an 8949 separately, somehow.

Thanks

[GeorgeM777]

The information below was obtained from CoinTracking.  Have you tried these steps?

1. Import your crypto trades from 100+ exchanges into CoinTracking
2. We calculate your crypto gain/losses according to your desired accounting method (from 13 available)
3. Generate a tax report for the year
4. Click on “Load Report” and then select TurboTax from the options
5. If you have less than 2251 transactions (TurboTax limit), click on “Download your capital gains data” to download the file for TurboTax
6. If you have more than 2251 transactions, download the “capital gains data summarized”

How do I enter crypto in TurboTax?

You can download your capital gains data from CoinTracking and import it on TurboTax to file your crypto taxes. Here’s how:

1. Download the capital gains file and login into your TurboTax account
2. Select “Federal” in the left navigation bar and “Stocks, Cryptocurrency, Mutual Funds, Bonds, Other” at the right
3. Select “YES” on the page “Did you sell any of these investments in Year?”
4. Select “Cryptocurrency” and “Continue”
5. Select “Try another way”
6. Select “Upload it from my computer” and “Continue”
7. Select “Other” under Crypto service, add CoinTracking as “Name” and “Continue”
8. Upload your CSV file

The above information was obtained at the following link.

CoinTracking

@bep156

[bep156]

Yep. I've tried those steps, George.

The template that turbotax provides does not clearly state which date to use. Why would those steps help answer my question about cost basis?

[GeorgeM777]

In your tax situation, did you make multiple purchases and multiple sales over several dates?  If that is the case, the default method is FIFO, which is first in, first out.  Under the FIFO method, the sale of a cryptocurrency will be allocated to the earliest purchase of the same cryptocurrency.  

Which version of TurboTax are you using, ie., TurboTax online, TurboTax CD/download?  Both versions contain screens where you can enter the purchase dates and sale dates for transactions.  

@bep156