How do i import my csv file from my crypto taxes done by koinly that was generated?

It is best to upload the .csv file to your desktop first. Then, save a new copy to change the columns if necessary to match TurboTax before importing.

 

The columns should be: 

• Service name (examples: Coinbase)
• Asset name (examples: Bitcoin, Ethereum)
• Date of purchase
• Cost basis
• Date of sale
• Sale proceeds

Once you have edited the .CSV file to match this format, return to TurboTax.

 

Inside TurboTax Online from the search box, enter cryptocurrency. Select the Jump to link in the search results and follow the prompts.

• At Let's get your cryptocurrency info, select any of the tiles and Continue.
  • You must select one of the tiles in order to get to the upload screen. Otherwise, enter each transaction individually.
• At Let's add your cryptocurrency transactions, drag and drop your CSV file.

For more information, see: How do I report Bitcoin or other cryptocurrency as a capital gain?

However, if you are mining cryptocurrency, then report this as self-employed income. 

Inside TurboTax Online from the search box, enter cryptocurrency. Select the Jump to link in the search results and follow the prompts.

• At Let's get your cryptocurrency info, select any of the tiles and Continue.

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What you posted above is fine and dandy if using online "cloud" based TT, however you should have mentioned that the TT CD/Download versions do not have the "Let's get your cryptocurrency info" option.  At least they do not exist on my 2109 and 2020 TT premier CD/Desktop versions so I had to enter everything manually.

 

Some guidance on the least painful way to do things using the Desktop versions of TT would be helpful.

Yes, you are correct, the directions are for TurboTax Online which has a dedicated cryptocurrency section. In TurboTax Online, it is common to import a large number of transactions using the .CSV file format.

 

Yes, there is a way to import in TurboTax CD/Download, as well.

 

To import using TurboTax CD/Download, .TXF can be used instead. To import a .TXF, follow these steps:

• Go to File in the upper left corner in the black menu ribbon menu.
• Hover over Import and then select From Accounting Software. 
• At Choose a Program To Import From, select Other Financial Software (TXF file) and Continue.
  • Follow through the rest of the interview. For more support, see: How do I import from the .txf file?

Below are a list of aggregator options if that would be useful for the future:

Using .TXF:

• Koinly
• BitCoin.Tax
• Cointracker
• CryptoTrader.Tax
• TokenTax
• ZenLedger

If the details are entered in summary form, then within three days of submitting your tax return, send Form 8453 with your cost basis details from your aggregator service. TurboTax will provide instructions.

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@prototype777

I used Koinly but when I use the edit option to look at a transaction (to understand if its taxable - thought that would also have been decided for me) the box that pops up says the service was CryptoTraderTax.  Why is that happening ?

Can I not upload my kraken and coinbase csv. files in TurboTax 2021 Home & Business? I thought I bought the version that does everything. Nowhere is it allowing me to import these files. Thanks

You may be able to convert your .csv file to a .txt file and upload it into TurboTax Desktop H & B 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.

@pokerpgh

HI!

Did you ever figure out how to import your csv file generate?

Am having the same issues and have no idea where to get assistance.

@Coolshadeguy1  Here is how to upload your cryptocurrency csv file in TurboTax.

If desktop TurboTax still doesn't support .CSV import there is a good thread on how to use the EasyTXF.com website to do it here:https://www.reddit.com/r/hrblock/comments/suf9l3/does_hr_block_support_any_method_of_entering/ You'll need to do a little manual adjustment of the outputed TXF file to get the ST and LT transactions into the right "boxes"