DESKTOP Version - Cryptocurrency

Forum|Forum|4 years ago
February 3, 2022
2 replies
10 views

I am completely lost. I have TurboTax Premier DESKTOP, not online, however everything I read on Cryptocurrency reporting doesn't exist in my desktop version. I don't have ANYTHING in regards to cryptocurrency, no links, nothing. I am reading support articles stating that Coinbase imports directly into TurboTax and that I can import a CSV file....WHERE?? I can not find anything in this version of TurboTax. Can anyone help?
P.S. I don't need help with investment taxes or math, etc. It is almost like there is a huge piece of my software missing.
Signed, Tired and now lost.....

HelenC12

Level 15

You can use the cryptocurrency import and other features with the TurboTax Online Premier and Self-employed versions only.

One option is to start a free tax return in TurboTax Premier Online. You don't pay for the return until you file it, so you won't have to pay the Online fee. Enter (import) your cryptocurrency information in the Crypto section, and then save the .tax file (not PDF). You can then open the tax file in TurboTax desktop, add the rest of your tax data and file.

How do I save my TurboTax Online return as a tax data file? This FAQ will also have instructions on how to continue your return in the TurboTax CD\Download version.
How do I import from the .txf file?

The other option would be to file using the Online software and get a refund for the desktop program.

Related information:

Source: DawnC

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TiredOfCRAPAuthor

Level 3

So, Intuit sold me a product that is missing features required for me to properly and conveniently do my taxes? I ALWAYS buy the download product because I simply don't want handing my info over to some third party server if not necessary....the desktop version is supposed to make it unnecessary.

Additionally, at what point in time did the rules change on software? Generally, you install it, there's no returning....and a download? You will need to elaborate on that a bit. Consider paying 58 dollars to Sam's Club for TurboTax download and you find out it WON'T do what you need it to. I'll take advice on just how to return the crap.

I find all this a bit unreal as crypto has been around for quite a while now.

AND I find a real issue with a company selling a product that will NOT perform the functions the company advertises. I believe the FTC has distinct rules on misadvertisement and just plain ol' lying to reap a profit. I believe I shall file a complaint with them. Now you know why my screen name here is what it is...different year, diffrent crap, same company.

TiredOfCRAPAuthor

Level 3

And BTW, I neglected to thank you for your answer....Thank you

I am obviously forced into using that procedure by no fault of my own. I hope it works for me but I am thinking I have been ripped for 58 dollars by a bunch of folks hiding behind curtains...sign of the times.

GrumpyCustomer614

Level 2

Oh my god, I agree completely with others. Everywhere I read said Premier will do Cryptos. So I bought the TurboTax Premier on Amazon. Halfway filing it, I looked for import Cryptos.... where da heck is it? After 3 hrs searching and reading... I have the CD/Desktop version. WHAT?! There's an online version? WHAT DA HELL! And I have to pay again if I want to go online route? I'm a first time TurboTax customer and so confusing with the TurboTax products. The Desktop version is slow and old looking. Feels like I've gone back to 1999 GUI.

Thank you for the work around from others.

Anonymous

Warning: if anyone else needs to do this, download from turbotax online FIRST. I prepared all my taxes on the desktop version only to need to redo it again because I can't combine the file downloaded from the online version. How hard is it for Intuit to create an csv upload reader??? UGH

JamesG1

Level 15

Were you provided a .csv file? You may be able to convert your .csv file to a .txt file and upload it into TurboTax Desktop Premier version.

Follow these steps:

Create a .csv file with all transactions using the format shown at Easytxf.
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 Crypto transactions is now created. This entry can now be edited to include the account details. Each transaction can be edited as well.