Coinbase csv file not compatible on turbotax? No Headers Found In This File error?

[MichelleLO]

Have you tried importing your cryptocurrency transactions directly from Coinbase into TurboTax?

How do I import my cryptocurrency transactions into TurboTax?

@Sonartech08

[Sonartech08]

Are you serious right now? That's what the entire original post is about. There is only one Import and that's from within TurboTax. Your link spells that out as well...but you're saying it like you can go to Coinbase and push an export into TurboTax. As far as I know that isn't possible and your link is the same directions as everything else...you go into TurboTax and Import from Coinbase. 

None of these solutions ever work for anyone. The Developers know there's an issue as they closed an open Technical Ticket saying the problem is on Coinbase's end. However, It's not. Turbo Tax has Coinbase branded all over it....so it's Turbo Tax responsibility to work with Coinbase if something they are providing is incorrect. Coinbase can't fix something that Turbo Tax won't work with them on. 

Or Turbo Tax should remove the Coinbase logo. Note this is a problem mostly with the Chrome browser. Using an alternate browser SOMETIMES works, sometimes doesn't. Or it's incomplete and makes you manually touch each record anyway. 

[KatValek]

@JamesG1 @AmyC

I have experience with CSV files through work and honestly think there is an IT problem on your end that is causing these not to work now. 

What I have done:  I downloaded the CSV file from Webull Crypto and tried to upload it without any edits.   

I got the error "The file column names in your CSV file are not correct."

I found your instructions and made sure the only 5 columns it had were in this order:

1. Purchase date
2. Date sold
3. Proceeds
4. Cost basis
5. Currency name

I resaved the file.  Tried to upload again. 

Same error.

I started a new excel file and pasted the values into it incase there was something wrong with the file and tried to upload it again.  

Same error. 

I tried to format the proceeds and cost basis columns to make sure they were numbers and tried to upload. 

Same error.  

When it gives the error, it also says to "please follow the instructions on the on the right-hand side to download the proper file."  And there is a link to this (article here) which says to use the "Turbotax Universal Template" but when I only have the data Webull Crypto gave (those 5 columns from before) How do I do that?  I also don't understand all the column headers: 

Date, Type, Sent Asset, Send Amount, Recieved Asset, Recieved Amount,  Fee Asset, Fee Amount, Market Value Currency, Market Value, Description, Transaction Hash, Transaction ID.  

I get the date.  Type is Transaction Type like buy/sell/etc but I am not confident on the rest.  A good example / screenshot of one or an explanation of each of the columns with an example data would be nice if we really have to use this.  

[JamesG1]

I am able to upload a .csv file into TurboTax Premier Online.  The file may be viewed here.

At the screen What’s the name of the crypto service, I select Other (Gain/Loss) and enter the name of the service.  Click Continue.

At the screen Go ahead and upload your crypto CSV file, upload the file.

The items must be reviewed and edited.

Hope this helps.

@KatValek 

[Sonartech08]

Thank you for your response. However, I'm literally a developer and programmer. It's been ruled out that it's my CSV or anything of my own since so many people are having the same issue. I did find out the root of the issue though. 

The root of the issue stems from TurboTax advertising the Coinbase deal but Coinbase has no agreement with TurboTax regarding what headers it exports. TurboTax has failed to contact Coinbase to remedy this issue so it's sort of a pissing match back and forth. 

The basis of the issue is Coinbase exports different headers and data than the outdated TurboTax interface that expects it to come in an old format. No one at TurboTax is currently working on this. After opening Support Tickets with both companies I've asked why TurboTax continues to advertise Coinbase (and the discount) if they are not working together. They agreed they should not be offering the Coinbase logo TurboTax since so many customers are having this problem. The problem also is isolated to the Chrome Browser (or Chrome Based browsers such as Brave) and will work with EDGE browser from Microsoft. With that workaround, they are refusing to work together to get Chrome working (or are failing to call it out in the user facing interface). 

[covertrain]

What version are you using.  As I understand it, this only works with the online version.  If you have the desktop version it won’t.  Do you know?

[MichaelG81]

Yes, you may only import crypto on our online version to start, then transfer to desktop to finish. Desktop does not allow for crypto import, currently; but will transfer from online version.

@covertrain 

[Gchau214]

@MichaelG81 

Hi Michael,

I am currently working with the desktop version of TurboTax Premier and I have CSV files of my crypto gain/loss transactions. Now since direct CSV import in not supported in the desktop version, are you suggesting I start all over in the online Premier version? Do I need to pay again to get the online Premier version (which basically renders my desktop Premier purchase useless?).  Or is there a workaround to import the CSV transactions in the premier desktop version?

Thanks,

Gautam

[Sonartech08]

Not sure why you're asking me this question. Question should be to TurboTax why they advertise with Coinbase but then don't work with Coinbase to make sure what they're offering works. Only workaround I found was use Edge browser but many of us don't use Microsoft products or at least as few as possible. It's pretty standard these days to be able to use browsers such as Chrome. Two companies this large, TurboTax or Coinbase should never even matter what browser is used, since they should have enough security and technical skill to make interoperability seamless. Just strange..and concerning...it doesn't work in the first place as advertised and TurboTax points the finger at Coinbase for changing their CSV file format but Coinbase points the finger back at TurboTax for being unwilling to work with them. Ultimately it's TurboTax pasting Coinbase's logo all over their software and offering a discount so in my view, it's TurboTax's problem to solve by working with Coinbase. Or, if they can't work together for universal browser compatibility, they should pull the ads and stop offering it. Seems pretty simple to me. 

But I can't answer for you what you should do. I know what I'd do and I'm looking to maybe try out TaxAct or Credit Karma next year. 

[JamesG1]

Consider this procedure to import a .csv file into TurboTax Premium Desktop.

A .csv file can be converted to a .txf file using a utility such as Easytxf.  Then import the .txf file into TurboTax Premium Desktop.

• Used Easytxf to convert the .csv file into .txf file.
• Import .txf file into Turbotax Desktop:    File / Import / From Accounting Software / Other Financial Software (TXF) file /  Continue / Choose a File to Import / Import now.
• A 1099-B with all cryptocurrency transactions is now created.   This entry can now be edited to include the account details.  Each transaction can be edited as well.

@Gchau214 

[Gchau214]

@JamesG1 

I tried doing that but get an error and it doesn't convert. However, I did try what @MichaelG81 suggested and was able to import the CSV flawlessly in the online version. So now I need to know how to import the results of the converted CSV back into the Premier desktop version as I have already paid for it plus 80% of my return is already done in the desktop version and I don't want to start all over again in the online version. 

[JamesG1]

Are you able to open the TurboTax Online tax return in TurboTax Desktop?

In TurboTax Desktop, at the screen Continue Your 2022 Tax Return, select Continue From TurboTax Online and follow the prompts.

@Gchau214 

[LtIndy]

I followed the instructions to ONLY have the five columns--i opened the "raw" file from Coinbase in Excel, deleted the "extra" columns, put them in this order EVEN THOUGH the instructions say they don't have to be

Purchase Date,Cost Basis,Date Sold,Proceeds,Currency Name

still didn't work. 

BUT, i opened the file in notepad and deleted the last line which was blank, SAVED as .CSV.  This seems to have resolved the "Your import was unsuccessful" error.  

Seems like a boatload of workaround, but seems to have worked.

[kelleydean]

I only have "Other"; not "Other (gain/loss)" and my fields from Coinbase and Coinbase Pro are not close to your template.  Is TurboTax ready for the 2023 year or this still a work in progress?