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dherting
Level 2

How do I download my cryptocurrency tax file from Zenledger?

I am ready to import my .txf file from Zenledger for my Cryptocurrency transactions. I have the desktop (CD) version of Turbo Tax with an upgrade to Premier via online.  I don't see the "cryptocurrency" sections that Premier is supposed to have.  It was my understanding that Premier provided this, which is why I upgraded.  Where do  I find the cryptocurrency section that I thought I was paying for with the upgrade? and how do I import this .txf file for form 8949?

1 Best answer

Accepted Solutions
Irene2805
Expert Alumni

How do I download my cryptocurrency tax file from Zenledger?

Here's an overview of the process DenM is proposing:

  1. Create a return on TurboTax Online.  (You won't have to pay for it until you file, which you're not going to do online.)
  2. Import your cryptocurrency into the online return.
  3. Download the online return to your computer.
  4. Open the file with the crytocurrency transactions and complete your return.

You may lose the data you've already entered in the return you created in desktop with this approach.

 

DernM's other solution is much better--report just the totals in each category, as you would with stocks.  You can report just the summaries of each category (short-term, long-term, etc.) and then mail in the statement to the IRS after filing.  Please follow these steps:

  1. Click on Federal > Wages & Income.
  2. In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other. 
  3. If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.  Click on the Add More Sales link. 
  4. Click the Yes box on the screen Did you get a 1099-B or a brokerage statement for these sales?
  5. On the screen, Choose your bank or brokerage, click on the box I'll type it myself.
  6. Enter the name of the bank or brokerage and click Continue.
  7. On the screen, Tell us about your [XX] 1099-B, mark the button I'll enter a summary for each sales category.
  8. Boxes will appear for you to enter the proceeds, basis, and category.  After entering your information for this category, click the Done box. 
  9. On the screen, Do you have another sale to enter from your Big Bucks Brokerage 1099-B? mark the appropriate button.
  10. If you marked Yes, a Sale #2 - Tell us about your [XX] 1099-B screen will appear to enter the information on another category.
  11. Continue entering summaries of the transactions for all the categories.  When you are finished, on the screen Do you have another sale... mark the No box and click Continue.
  12. The next screen will be a summary of your entries:  Here's all the sales reported by [XX].  You can Edit, Delete, or Add a transaction.  
  13. For the instructions to mail in your statements, click on the instructions link underneath the table of transactions. 

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21 Replies
DeanM15
Expert Alumni

How do I download my cryptocurrency tax file from Zenledger?

The Desktop CD version of TurboTax does not have a Cryptocurrency section. The TurboTax Online version of Premier does have a Cryptocurrency section. 

 

Zenledger is one of the supported partners for the Cryptocurrency section of the Online product. If you are working in the CD download version and you have a Zenledger aggregation, you can manually add a line of long term and a line of short term in the Stocks, Mutual Funds, Bonds, Other portion of the Investment section.

 

If you need to upload your Zenledger CSV file you can start a Premier online return. Upload last years .tax file to the Online program for any carryovers and to save typing. This will happen in the first couple of screens when opening the TurboTax Online return. Upload the ZenLedger CSV file to the Online product in the Investment section labeled Cryptocurrency. Then save your 2019 Online version to your desktop (see below). This will put the transactions on your Form 8949 and Schedule D, but there will be nothing in the Step by Step mode to indicate this. You will have to go to forms mode to see the transactions. Also if you have been doing any work on your return in the CD Download product, all of that will be lost and you will need to re-enter. You can not do this on a mobile device.

 

To save the .tax file in TurboTax Online to your computer:

 

  • While signed in and working in TurboTax
  • Click on Tax Tools in the left-hand menu
  • Then click on Tools
  • In the pop-up window, click Save your 2019 tax return to your computer.
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dherting
Level 2

How do I download my cryptocurrency tax file from Zenledger?

How do I start working/access an online return if I have been using the desktop version?

Will it automatically transfer over the 2019 return I have been working on (this is now complete except for the cryptocurrency)?

Irene2805
Expert Alumni

How do I download my cryptocurrency tax file from Zenledger?

Here's an overview of the process DenM is proposing:

  1. Create a return on TurboTax Online.  (You won't have to pay for it until you file, which you're not going to do online.)
  2. Import your cryptocurrency into the online return.
  3. Download the online return to your computer.
  4. Open the file with the crytocurrency transactions and complete your return.

You may lose the data you've already entered in the return you created in desktop with this approach.

 

DernM's other solution is much better--report just the totals in each category, as you would with stocks.  You can report just the summaries of each category (short-term, long-term, etc.) and then mail in the statement to the IRS after filing.  Please follow these steps:

  1. Click on Federal > Wages & Income.
  2. In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other. 
  3. If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.  Click on the Add More Sales link. 
  4. Click the Yes box on the screen Did you get a 1099-B or a brokerage statement for these sales?
  5. On the screen, Choose your bank or brokerage, click on the box I'll type it myself.
  6. Enter the name of the bank or brokerage and click Continue.
  7. On the screen, Tell us about your [XX] 1099-B, mark the button I'll enter a summary for each sales category.
  8. Boxes will appear for you to enter the proceeds, basis, and category.  After entering your information for this category, click the Done box. 
  9. On the screen, Do you have another sale to enter from your Big Bucks Brokerage 1099-B? mark the appropriate button.
  10. If you marked Yes, a Sale #2 - Tell us about your [XX] 1099-B screen will appear to enter the information on another category.
  11. Continue entering summaries of the transactions for all the categories.  When you are finished, on the screen Do you have another sale... mark the No box and click Continue.
  12. The next screen will be a summary of your entries:  Here's all the sales reported by [XX].  You can Edit, Delete, or Add a transaction.  
  13. For the instructions to mail in your statements, click on the instructions link underneath the table of transactions. 
cage22548
Level 2

How do I download my cryptocurrency tax file from Zenledger?

do you have someone do this foe me and how is my return priced

cage22548
Level 2

How do I download my cryptocurrency tax file from Zenledger?

my 2019 is being resubmitted this week. i need to speak to someone

DianeW777
Expert Alumni

How do I download my cryptocurrency tax file from Zenledger?

If you want to contact us directly about your 2019 return submission start by selecting Click or tap here to go to our Contact us page.

 

You can schedule a phone meeting for Live Support for 2020 by following these instructions:

  1. Sign in to your TurboTax Account Online
  2. Click the Live Tax Assistance in the upper right-hand corner of your screen
  3. Click "Upgrade" at the bottom right side of the screen if you choose
  4. Or Click the Blue Help ? box in the upper right-hand corner of your screen
  5. Type your question or issue then click "Let's Talk"
  6. Review the options and select

 

gdradke
Level 2

How do I download my cryptocurrency tax file from Zenledger?

Do we still have to use this workaround for 2020 or does TurboTax Desktop Premier support the Zen Ledger Import function?

MichelleLO
Intuit Alumni

How do I download my cryptocurrency tax file from Zenledger?

You will need to check the Zenledger website for TurboTax import instructions. Many of the cryptocurrency exchanges are not allowing a direct link for import into TurboTax.

@gdradke

 

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gdradke
Level 2

How do I download my cryptocurrency tax file from Zenledger?

I am not asking about import my exchange data into Zen Ledger. I have already done that. I have the output files from Zen Ledger. How can I import the data, forms, and other Zen Ledger into TurboTax Premier Desktop?

HeatherPLO
Intuit Alumni

How do I download my cryptocurrency tax file from Zenledger?

You will need to use a CSV file, but please see the post here for further assistance.

 

 

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CH1449
Level 1

How do I download my cryptocurrency tax file from Zenledger?

Your answer just went around in circles. It is apparent that you do not have a solution for directly loading files from ZenLedger into TurboTax Premier, or any version other than TurboTax online. That is very disappointing after several years of having the IRS place an emphasis in cryptocurrency reporting.

cage22548
Level 2

How do I download my cryptocurrency tax file from Zenledger?

i have not found anyone who got back to me that could download my coinbase account to have this info for my 

tax return, julia roberts

TiffanyL
Intuit Alumni

How do I download my cryptocurrency tax file from Zenledger?

@CH1449, please see the FAQ link provided below for assistance and let us know if this helps:

 

How do I get a CSV file from Coinbase?

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gdradke
Level 2

How do I download my cryptocurrency tax file from Zenledger?

The "experts" from Intuit are of zero help. If you use the Zen Ledger services, they will compile all of your various exchange data (coinbase, gemini, kraken, wallets...)  and generate a universal file (.csv). Further, they will automatically generate a Turbo Tax accounting software native file that you can import. In TurboTax Premier or higher, go to "File", "Import", "From Accounting Software", "Browse Files...", locate your Zen Ledger data folder, select the "aggregated.txf" that was generated by Zen Ledger. It should import just fine. You will have the best luck if you do this earlier in starting your return.

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