How do I import my crypto csv file into Turbo Tax Home & Business

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. 

Good luck importing into the online version. Every time I try importing the .csv file from Bittrex, I get an error,
"Please make sure your CSV file has columns for Currency Name, Purchase Date, Cost Basis, Date sold, and Proceeds, then try uploading again."
It's either the crypto csv file is structured different than what Turbo requires or excell is messing with things or who knows.

I am NOT happy!  I paid a lot for my downloadable version of Home and Business and I should be able to import crypto information for my 2018 taxes.  What the heck???

Is an updated version for Prem CD?Desk coming out soon for an CSV upload? Really not a good productt for Crypto investors...

Seriously, how does it make sense to NOT include it into home & business version? I was so hopeful I could use the import.

This is big dummy move by Turbo Tax!!!  Mad as heeeeel

It really sucks the more expensive CD version does not have the crypto feature the cheaper online version has.

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:

https://help.cryptotrader.tax/articles/2657181-turbotax-desktop-version-how-to-upload-your-data-with-txf-export-file

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.

@lilcheez

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:

• 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.

You can also import import from bitcoin.tax. Review this link to find more information.

Premier Online version has a "Crypto" section... but it doesn't upload the .csv file so it's null and void too.

So you want me to pay for a 3rd party software when I should be able to upload the .CSV file myself.  Starting to see the collusion between CryptoTrader and TurboTax... bait and switch at it's finest. 

I don't see that option.  I need to amend my taxes for 2017, 2018, and 2019.  I forgot to put in my cryptos... right now I am trying to do 2017.

@CB58 Click this link for instructions on How to Amend a Prior Year Federal Return.

This link gives details on Reporting Crypto. 

Thank you for the response.  None of these explain how to claim cryptos in 2017.

If you sold/traded cryptos in 2017, then you must complete an amended return as noted by @marilynjoy.  On the other hand if you purchased them in 2017, then traded them in 2020 you will enter them as a sale of Investment Income.

In TurboTax Online you will find Cryptocurrency as a selection under Investment Income

In TurboTax Desktop you will enter Cryptocurrency as a Stock, Mutual Funds, Bonds, Other, under Investment Income

You can choose to enter a group sale, and send the detail information with Form 8453, after your return as been acknowledged. The instruction and mailing address can be found with the form.

Note:  It is your responsibility to maintain records of each purchase, and each trade or sale from the first transaction, including the dates, as proof of your transactions of purchase and sale (for tax purposes).

The problem is that cointracker only has CSV files. How can I upload the CSV file??

Please follow the directions below to help you access your tax forms in Coinbase.

1. Go to www.coinbase.com/tax-center (you may be prompted to sign in first).
2. Select 2020 next to Gain/Loss Calculator.
3. Download each individual CSV file from the list of cryptocurrencies (2,251 is the max amount of transactions you can do in TurboTax).

After you're done, sign in to TurboTax to upload your files (you'll need them to report any gains or losses).

Don’t download any transaction history files as they won't work. If you experience issues downloading, please contact Coinbase directly.

Click How do I get a CSV file from Coinbase? to learn more

I figured out how to do it using Coin Tracker. but it took a while. 

In depth details from coin tracker found here

Using CoinTracker to file with TurboTax | CoinTracker Help Center

Step 1) Allow CoinTracker to have access to your Coinbase account. Once completed, in CoinTracker go to the "Tax Center".

Step 2) At the top make sure you are on the correct year. For me it is 2020. 

Step 3) Scroll down and look for "Tax Reports", It has 3 tabs in that box and will be on "IRS Forms". Click on the "Tax Filing Software" tab. at the time of writing this you will see 4 options. 

Step 4) Click "download" next to TurboTax online file. (Or what ever you are using. CD version for people who bought a physical CD of TurboTax.)

Step 5) Once this is done downloading, drag it from the folder it saved in (For me it was downloads.) into the drag and drop box on TurboTax.

This is a shortened version of the link I shared above. It has pictures. This is not financial advice and you should always consult a tax professional. (I am not responsible for any mistakes made. This is just what worked for me.)

@TerukoL 

Yes that does not work as many people online have been saying.  Not to mention your only confusing people with saying "Dont download transaction history files". This is the exact wording from Coinbase in their tax section.

How to file your taxes