If I'm using cointracking.info for cryptocurrency transactions and get the TurboTax import, where do I put that in TurboTax?

Forum|Forum|7 years ago
June 6, 2019
4 replies
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I have a few dozen transactions and cointracking.info gives you a file that you can use in TurboTax after calculating everything for you but I have no idea what to actually do with that now that I have it.

TurboTax Premier Online

Best answer by

If you want to import the file into TurboTax, you will want to use the TurboTax downloaded software. Due note, that the import is limited to the first 500 lines

Follow the steps below to import your cryptocurrency transactions:

Click on the Personal Income Tab
Scroll down to the Investment Income and choose Start next to Stocks, Mutual Funds. Bonds, Other
Click Yes when asked “Did you sell Any Investments in 2017?”
You will then have the option to Import from a TXF file.

If you would prefer to use TurboTax online, then you will want to enter the summary information from the form and mail in the statement manually. TurboTax walk you through the process to mail the correct forms.

Anonymous

Answer

If you want to import the file into TurboTax, you will want to use the TurboTax downloaded software. Due note, that the import is limited to the first 500 lines

Follow the steps below to import your cryptocurrency transactions:

Click on the Personal Income Tab
Scroll down to the Investment Income and choose Start next to Stocks, Mutual Funds. Bonds, Other
Click Yes when asked “Did you sell Any Investments in 2017?”
You will then have the option to Import from a TXF file.

chillihead

Level 2

Has anyone successfully imported the cointracking 8949 form into the desktop tax version? I would like to know as well. I have over 1400 GDAX trades as well as Bittrex. Thanks.

abhinandan

Level 2

hi, were you able to put all 1400 transactions in the software version for 2018 taxes ? I am asking since i am looking to download the 2018 version( i am filing late taxes) and looking to import the file from cointracker.

Anonymous

If you already paid for online version, here is what you can do to import cointracking txf file:

- From turbotax online, export tax2017 file and save to your computer

- Download Turbotax Amend software and install it

- From the Amend software, open the tax file and follow the top answer to import cointracking txf file.

- Print out and mail your return b/c can't e-file 😞

Hope this help.

pdavidow

Level 2

I am going crazy. I am using CoinTracking (not CoinTracker), and basically have no idea what to do with TurboTax Online FreeFile. It looks like I need to buy the downloadable deluxe version of TurboTax.

What about using form 8949 with TurboTax Online FreeFile?

Can I get an official response please?

jamesh53

Level 2

I was able to figure this out last night on the web version. I selected “Coinbase” even though I use CoinTracking. It then asked for a csv file. I tried uploading the csv file that I pulled straight from CoinTracking. TurboTax gave me an error which said something like, “make sure you have these column headers.........”

So I opened the csv file in Excel, made sure the column headers matched what the error message said, saved, uploaded it again, and it worked!

mjpablo23

Level 2

thanks, this worked for me in the web version

bugujr

Level 4

I contacted CoinTracking support about this, and they have a way for you to upload your tax report in the TurboTax online version.

Please do the following:

1. Open your tax report generated in CoinTracking.info

2. On the capital gains report, click on the "TurboTax" Button. Then the following page will open:

3. Add now add "&tt_online" at the end of the URL in your browser. For example (don't use this link - yours will be different😞 https://cointracking.info/tax/tax_details/TurboTax.php?tax=14&tt_online

4. On this page, you will find the correct files you need for uploading them into your TurboTax online version.

They format it to fit into the Robinhood format that TurboTax allows, but as noted in the instructions don't worry, you will still be able to upload transactions from all other exchanges as well.

This is a workaround that CoinTracking.info has been able to provide thankfully. All because of TurboTax not listening to users to allow .txf uploads in the online version. Thanks CoinTracking.