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Everyone is aware of that. You are missing the issue. The issue is that TURBOTAX ADVERTISES COMPATIBILITY WITH COINBASE AND INDICATES NO EXTRA FEES. IT IS BILLED THE SAME AS HOW IT WORKS WITH TD AMERITRADE. We don't want to pay 59 dollars to ANOTHER THIRD PARTY and give them access to OUR INFORMATION. Does that make any sense to you?
Folks
Is this issue fixed yet
Tax filing nearing to end date
I tried all option, Turbo is not accepting the csv which i downloaded from Coinbase pro
i also tried importing the Coinbase csv to Cointracker but no luck, there also i see the parser issue
Please help
Help with getting your CSV from Coinbase has been provided by clicking here.
NashayLO,
The link to TurboTax Inuit help recommends the use of CoinTracker. Their service asks me 199$.
For something I have as PDF and CSV from Coinbase, but Turbo does not have a way to read.
If you only have a few trades you can post them manually.
Income & Expenses
However, if there are more than a few you can quickly enter this manually also.
Your brokerage statements should include a summary of your transactions, grouped by sales category.
There are seven possible "Box" designations that indicate the holding period (Long/Short Term) and the reporting status. These are the only ones you have to summarize. If you want to manually enter your 1099-B as the summaries.
Code A. This code indicates a short-term transaction for which the cost or other basis is being reported to the IRS.
Code B. This code indicates a short-term transaction for which the cost or other basis is not being reported to the IRS.
Box C. Report on a Part I with box C checked all short-term transactions for which you can't check box A or B because you didn't receive a Form 1099-B (or substitute statement).
Code D. This code indicates a long-term transaction for which the cost or other basis is being reported to the IRS.
Code E. This code indicates a long-term transaction for which the cost or other basis is not being reported to the IRS.
Box F. Report on a Part II with box F checked all long-term transactions for which you can't check box D or E because you didn't receive a Form 1099-B (or substitute statement).
Code X. Use this code to report a transaction if you cannot determine whether the recipient should check box B or box E on Form 8949 because the holding period is unknown.
You will have to mail a copy of your 1099-B to the IRS. TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it.
I mean yeah, props for actually posting a unique answer... but the automation of the entire process is still missing. A few trades, even 10 would be annoying to put it in when I should be able to post the hundreds I do have and that were advertised to be accepted.
I'm having this issue too, I signed up for cointracker but the CSV file is not recognised when trying to upload to TurboTax. Very annoying, what should we do??
Some were able to get a CSV file imported into TurboTax by doing the following: Select BitTaxer and deleted all columns from the CSV file except for the 5 listed below. Delete the Service Name column. That worked, but not until the column labels matched the following:
1. Purchase Date
2. Date Sold
3. Proceeds
4. Cost Basis
5. Currency Name
All transactions imported and were able to check off the ones that are not taxable (such as your rewards) so as to not include them on my tax return.
Agreed! So frustrating!
Found this on Reddit:
I solved this issue. Here's an example of the final formatted CSV. Make sure it does not have control+M characters at the end of each row using vi or some other text editor that shows those.
Currency Name,Purchase Date,Cost Basis,Date sold,Proceeds
BTC,9/20/19,104.76,7/27/20,97.28
XLM,3/12/20,1000,4/28/20,1414.87
I used Excel functions to take the Coinbase transaction history CSV and convert it into this format. This is what I did.
NOTE: This ASSUMES your CSV is alternating exactly 1 Buy / 1 Sell on each row. If you bought multiple times and then sold, double check your doc and manually fix it in those instances. Also, you'll have to exclude any rows (obviously) for sells that took place in the wrong tax year.
Remove the BS lines (leave the txn header row for now)
Paste these headers into cols L - P: Currency Name,Purchase Date,Cost Basis,Date sold,Proceeds
Starting on the first Sell txn (should be row 3), set the following excel functions as values further off to the right in the CSV file.
Set value of L3 to: =IF(B3="Sell",C3,"")
Set value of M3 to: =DATEVALUE(LEFT(IF(B3="Sell",A2,""),10))
Set value of N3 to: =IF(B3="Sell",G2,"")
Set value of O3 to: =DATEVALUE(LEFT(IF(B3="Sell",A3,""),10))
Set value of P3 to: =IF(B3="Sell",G3,"")
Drag down the formulas through your sheet
Highlight the date columns and format->cells and choose the date format that is mm/dd/yy
Copy and paste these values to a new sheet (paste values only)
Sort the doc, ascending, by Purchase Date, expand selection.
Delete the blank rows.
Save the doc using Save As and select Windows Comma Separated (this one surprisingly gave me no weird control+M characters and no trailing commas when I look at it using vi or other text editor)
someone recommended that you have to upload the capital gain csv file, it has all of the proper headers
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