Amending 2018 return to account for Crypto transactions

[sdenaeberry]

I filed my taxes with Turbotax Deluxe in 2019 for my 2018 taxes.  This year, I am trying to amend my 2018 taxes to include my crytpo transactions.  When I get to the part of the amended return where is asks me to select my cryptocurrency service and Turbotax will help me import my info., it does not provide a way to import my 300 transactions and will only allow me to manually input 50 transactions.  Help!  How am I supposed to amend if I can't even provide the information i need to provide.  I have started my 2019 return and had no issues importing my crypto transactions.

[GiseleD]

In your case, you can only enter 50 transactions manually. Since you have more than that to report, you can use a private accountant to reconcile your crypto transactions and aggregate them, or you can reconcile them on your own with a transaction aggregator. There are many services online that can help you aggregate your transactions and help you calculate your gains and losses. Just please check to ensure that the aggregator service or accountant you use will be able to provide you with your transactions on Form 8949 (Sales and Other Dispositions of Capital Assets). That's what you will need to report your crypto activity on your amended return. 

[fanfare]

IRS requires details to be listed on Form 8949,
or on your own forms (e.g. consolidated 1099-B or spreadsheet) which have the same information and in the same manner as Form 8949.
Either way, if you choose to summarize, you have to mail the transaction details to the IRS within three business days of IRS accepting your tax return.

Amended return:

Select "I'll enter a summary", your return will generate form 8949 summary with the mail-in election.

since you must mail 1040X, the mail in election is implied. 

Does your broker provide you a printable report of your transactions ??

If yes, attach the transaction detail after all the changed or added forms and schedules that you are amending.

If not, the IRS might accept you explanation (1040X Part III) that the detail is not available.

OR 

You can get fillable PDF form 8949 from the IRS website. Use as many pages as necessary.

Exception: if you summarize Category A or Category D, Form 8949 is not needed for transactions without adjustments. No detail is necessary.

If your brokerage statement shows that your transactions are all Category A (basis reported to the IRS), you can avoid listing those three hundred transactions.

[shred86]

I'm having this same issue. I have no idea why you can't import your transactions when doing an amendment, but you can when filing your normal tax return.

[KarenJ2]

As a workaround, you could enter "Summary of all LT Crypto Trades - See Schedule 1" in the "Property Description" box, enter the net proceeds for the long term trades in the "Net Proceeds" box and "12/31/2018" in the "Date of Sale" box. 

On the next page I'd tick "Purchase" and on the "Enter Purchase Information" page I'd enter the cost basis dollars and the word "various" in the "Date of Purchase" box.
 

Then go back and do the same for ST trades, answering "n" to the date acquired question.

Mail in your schedule of individual trades along with Form 8453.

[alanaluv]

I am now trying to do exactly this but do not completely understand the workaround.  TT does not let me enter "Various" for any of the date boxes.  Does this workaround apply for Box C (short-term gains not reported on nay 1099-B)?

[vinil]

Did you find any workaround? if yes, please update so i can also try it.

I have received form 8949 and Schedule D from crypto tax software. But TT is not allowing CSV upload and not allowing to enter more than 75 records. 

Please help, what should i do next? 

[lostslug]

Did you ever find a solution for this?