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

[CJTAY]

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

[CJTAY]

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. 

[CB58]

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.

[MarilynG1]

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

This link gives details on Reporting Crypto. 

[CB58]

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

[DianeW777]

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).

[crusader42]

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

[TerukoL]

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

[ASP1628]

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.)

[zekul9]

@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

1Calculate your crypto gains / losses

Use transaction history to calculate your gains / losses

First, generate a report that lists all of your crypto transactions in a single CSV or PDF. Then, share your report with a tax professional or input it manually into your tax forms. If you use Coinbase Pro, be sure to download your Pro transactions too.

So looks to me like you Do download transaction history. And again, the CSV files do not work because the format is wrong because apparently you cannot communicate with your partnered company Coinbase.

[zekul9]

Dear @ASP1628 

Yes I'm pretty sure people have been quite aware of being able to use Cointracker to successfully upload the csv file, yet isnt that a paid service? That's exactly what is sneaky and annoying. How convenient that only a paid program works to upload a CSV file to turbo tax.

[carnie43]

@TerukoL: As you may have seen in other threads, the information you're sharing here is WAY out of date. The Coinbase link you provided no longer exists, Coinbase no longer offers a Gain/Loss calculator, and its CSV file formatting has changed so that TurboTax no longer accepts it.

I know you guys are basically just sitting in a call center going off of scripts, but those scripts have expired. Stop sending us to third parties that cost upwards of $100 for anything more than 50 transactions (CoinTracker is only free for up to 50 transactions, and then the next tier is $99).

Send these issues to people who can actually FIX this issue. Your programmers, and whoever set up the partnership with Coinbase are the ones who need to be hearing this. From here on, please stop linking to this old stuff and forward these complaints to the people who can make changes. 

[linds4]

@TerukoL This is exactly what is not working. TurboTax is saying the upload failed. We are downloading the csv from Coinbase, TurboTax is not reading the CSV.

[MarilynG1]

@linds4 Click this link for detailed instructions on Importing from Coinbase. 

[linds4]

@MarilynG1 Appreciate your response. But it is not that the instructions are unclear, it is that TurboTax is giving an error when trying to upload the csv file.