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

[MarilynG1]

Yes, summarizing crypto transactions is often the best way to go, as some of the transactions  may not need to be reported in TurboTax.

You could download the .csv file and review for 'reportable'  transactions, then summarize. 

Click this link for How to Enter a Summary in Lieu of Individual Transactions for Capital Gain transactions.

This link has info on How is Crypto Taxed?

[kevinstan]

I purchased a download desktop version and for hours Ive tried to import a csv file and can not. So Im here trying to figure out if I need to be on this online site to do so. So i've been at it for hours with no success. Its impossible to know if this online deal is included in my purchase or what. So far I've done most all my taxes on the desk top, now Im doing them AGAIN on this on line crap cause this is the only place I can see where I can add a crypto csv file. lotsa time wasted!!!!

Is there a way to upload a csv file or not!!! I paid $120 for a desktop version and do not see it!!!

I will not do the online version and pay ANOTHER 100 some dollars, I'll go BACK to H&R first!!

Man, the hours wasted is unreal, can anyone help?

[JamesG1]

You may be able to convert your .csv file to a .txt file and upload it into TurboTax Desktop Premier version.

Follow these steps outlined by JoeFM here. 

• Create a .csv file with all transactions using the format shown at Easytxf.
• Used Easytxf to convert the .csv file into .txf file.
• Import .txf file into Turbotax Desktop:    File / Import / From Accounting Software / Other Financial Software (TXF) file /  Continue / Choose a File to Import / Import now.
• A 1099-B with all Crypto transactions is now created.   This entry can now be edited to include the account details.  Each transaction can be edited as well.

@kevinstan

[tbtb]

I have succeeded to create 1099-B, now next question what should I put under Name of reporting financial institution for "COINTRACKER.IO"? {could i use Nino Finance, Inc.?}

Thanks.

[MarilynG1]

You can use whatever you want as the Name of Financial Institution for your crypto transactions. 

The name of the financial institution does not actually go on your tax return. It's just a way of keeping track of the transactions in TurboTax.

Here's a Cryptocurrency Tax Guide. 

[cryptobigl]

im trying to get help with my 2019,20 and 21 taxes any advice [email address removed]

[Claude4]

The basic downloadable Turbotax is designed for relatively simple tax situations for do-it-yourselfers.  If you paid for a downloadable version, then you really didn't pay a lot of money when compared to hiring a CPA.  If you want someone to do your taxes for you, and not pay a lot, I would suggest Turbotax Full Service.  But even here, there are limits as to what Full Service can do, as it could take many, many hours to comb through and organize thousands of transactions.   If you need to resolve prior year screw-ups, you need to consult a local CPA. 

[barry13]

Sorry, but most local CPAs are not as thorough as Turbotax.  In my experience, local tax prep accountants are mostly focused on quantity and not quality - the last thing they worry about is trying to save you the extra dollar.  They just want to do as many returns as they can do and as fast as they can.  Yes, they'll get your taxes done on time, but you'll save more in taxes by doing them yourself.