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For some reason, TurboTax has not yet included the crypto import feature in the cd/Desktop versions of TurboTax. It is only found in the online Premier and online Self-Employed versions of TurboTax.
You can still upload crypto information into the download/ CD version of turbotax.
File > Import > From Accounting Software > Other Financial Software TXF file.
You can automatically create your necessary cryptocurrency tax reports that can then be exported right into the CD version or the online version by using one of TurboTax's cryptocurrency partners. The process for uploading your transactions into the CD version is walked through in-depth in this article:
If you traded on multiple different cryptocurrency exchanges, TurboTax does not have the ability to automatically build your 8949 because you need to have your cost basis and fair market value data for each trade.
To solve this problem, you can use one of TurboTax's cryptocurrency partners to automatically build and export your crypto tax reports that can then be imported right into TurboTax online.
Ok, but how do you do it?
What is your specific question regarding reporting your crypto gains and losses on your tax return? If your question involves reconciling your trades, purchases, and sales, you will need to reconcile this activity before it can be reported on your return. Please see the TurboTax FAQ for more information about reporting cryptocurrency activity.
Incorrect.. this only allows a .TXF file.. not the files provided by most crypto exchanges. It a failure on their part to say it supports something that it clearly does not. Or at least there should be a real work around.
At the moment we (consumers of Turbo Tax no-web based software), have been under frustration, due to the fact that importing Form 1099B*, for cryptocurrency, is unavailable. Can we please have an update on the status of implementing this feature into the Turbo Tax Home and Business software?
Have you tried this? This explains how to import from cointracker
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:
You can also import import from bitcoin.tax. Review this link to find more information.
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