Does the Turbo Tax Deluxe Desktop 2021 version support direct cryptocurrency CSV importing?

[MasonForex]

Because they are pushing people to the online version which is more expensive and has not middle man either. Therefore, their profits gets doubled or so at the cost of their customers. Classic profiteering, time to move on.

[ahossain05]

@harbinger910 Hi, how did you get Cointracker to generate a .txf file? I can only see pdfs and .csv. Thanks!

[DWPALM]

I tried this and despite thousands in taxable income from crypto, it did not change my bottom line refund/tax owed amounts at all after entering this.  It doesn't look like the information was calculated into the tax at all despite the correct taxable amount showing up on the summary screens.  I don't trust this at all.

[JamesG1]

Perhaps you reported a net loss on your 1099-B Proceeds transactions?

Are you able to view the transactions imported into IRS Form 8949 and IRS Form 1040 Schedule D and review the computations?

View the entries at Tax Tools / Print Center / Print, save or preview this year's return.

[harbinger910]

 @ahossain05  It was previously under Taxes / Tax Reports  but now that CoinTracker has married up w/ Turbox Tax in the past month, they've switched to the .CSV file which requires the online version to ingest it.  Turbo Tax just sucks forcing everyone to use the online version which anyone in bed with them now must be required to do the same.  I'm glad I was able to get my .txf file created a month ago before all this happened.  Next year I'm going to write my own .CSV converter to .txf since I refuse to use the dumb online tax version.  

[ahossain05]

@harbinger910 thanks for responding, appreciate your help. what a mess, I was chatting with an agent for over 90 min who could not respond. Why turbotax creates two products with the same name with different features is beyond me...

[grr2]

Thanks for your post.

Regarding what you said about CoinTracker supporting up to 3,000 transactions for free to a .txf file, when I go to try to generate the report, it shows me their "2021 Tax Plan Pricing":

Free: 25 Transactions

$59: 100 Transactions

$199: 1,000 transactions

Am I doing something wrong? I can't see how we get "3,000 transactions free", when what I'm looking at says hardly anything is free. 

Any help is appreciated! Thanks!

[Cass0317]

You will need the Premier edition or above. Whether you have stock, bonds, ETFs, cryptocurrency, rental property income or other investments, TurboTax Premier has you covered. Filers can easily import up to 10,000 stock transactions from hundreds of Financial Institutions and up to 4,000 crypto transactions from the top crypto exchanges.

Have questions about TurboTax and Crypto? Our Cryptocurrency Info Center has commonly answered questions to help make taxes easier and more insightful.

For additional information, please also see the TurboTax Products information here.

@grr2

[harbinger910]

The TurboTax Premier CD version does not support .CSV importing, but only .TXF files. It's the TT online version that supports the .CSV, so please don't confuse others on this thread.

CoinTracker no longer supports creating the .TXF as of a month ago for some dumb reason to please their TT venture. So for all who need the .CSV to .TXF format for the CD TT version to import  .TXF formats via the file/import/from AccountingSoftware feature, this site has a utility to do it for $5  https://www.investotek.com.  Next year I'm just gonna just write my own conversion util to avoid all these frecktards since I don't plan on using the online TT version. Anyway hope this helps someone.

[harbinger910]

@grr2 you have to be using Coinbase to get the free 3000 transaction option w/ Contracker. If your using it as your exchange, it usually doesn't show the 3000 transaction options for a few days. If you go to the tax page and download any of the tax forms and have more than 25 transactions in your wallets then the 3000 should be enabled on your account. All these exchanges need to get their crap together soon as the fiat dollar is collapsing at rapid a rate as blockchain takes center stage 😃  

[swh1950]

The limited functionality of desktop Premier not importing crypto is a deal breaker for me.  If the 2022 still does not do it, I will be looking to use a different program.  I have used desktop Premier since 2010 because it seemed to be the best choice.  I manually entered my crypto trades this year.  I do not want to do my taxes online.

[foytlin01]

Importing the TXF file WORKS -  follow the directions @ top of thread 

[kelsybass]

I am a Product Expert and just went through this with a GREAT customer and it dose work for TTD

How to import your transactions into TurboTax:

1. In your TokenTax Documents screen, create and download a Form 8949 TXF.
2. On TurboTax, select File -> Import -> From Accounting Software (Windows) or File -> Import -> From TXF Files (Mac)
3. Select Other Financial Software (TXF file) and click Continue
4. Select the TXF file you saved from TokenTax and click Import Now
5. Click Done on the next screen
6. To review the added information, go to Personal -> Personal Income and scroll down to Investment Income

[foytlin01]

importing the TXF file works!   EX Crypto.com has an option for this file specifically for TurboTax CD users 

[mgbeecher]

Why do you mention TokenTax in your answer?  I thought these instructions used Cointracker.