HOW DO I IMPORT THE COINBASE CSV FILE INTO TURBOTAX? The "How do I import my cryptocurrency transactions into TurboTax?" answer DOES NOT WORK!!!!

[mairs]

I am using TurboTax Premier on an Apple Mac running MacOS Catalina.

have already downloaded my "Coinbase TurboTax gain-loss report (2021)(CSV)" file from Coinbase.

Now I want to import that CSV file into my TurboTax return.

I am trying to follow the instructions on the "How do I import my cryptocurrency transactions into TurboTax? by TurboTax•223•Updated 2 weeks ago" page.  It says:

1. Sign in to TurboTax, and open or continue your return
2. In the Wages and Income section under Investments and Savings (or Investment Income), select Start or Revisit next to Crypto (1099-B)
3. On the next screen, you may see Did you sell any of these investments in 2021? or Time to kick off your investments!, select either Yes or Okay!
4. Select Let’s import! on the We can make this faster screen
   1. If, instead, you see the Get ready to be impressed screen, select Continue

However, when I am in the Wages and Income section, and go down to the Investment Income section, then click on the "Stocks, Mutual Funds, Bonds, Other" Update button, nowhere does it say anything about Crypto.

HOW DO I IMPORT THE COINBASE CSV FILE INTO TURBOTAX?????????

[HelenC12]

You can use the cryptocurrency import and other features with the TurboTax Online Premier and Self-employed versions, only.  

One option is to start a free tax return in TurboTax Premier Online. You don't pay for the return until you file it, so you won't have to pay the Online fee.  Enter (import) your cryptocurrency information in the Crypto section, and then save the .tax file (not PDF).  You can then open the tax file in TurboTax desktop, add the rest of your tax data and file.

• How do I save my TurboTax Online return as a tax data file? This FAQ will also have instructions on how to continue your return in the TurboTax CD\Download version.
• How do I import from the .txf file?

The other option would be to file using the Online software and get a refund for the desktop program.

Related information: 

• Your Cryptocurrency Tax Guide

[lhoydic]

So what you are saying is there is no way to import this file in the desktop Home & Business version?   

[Katina S]

That is correct. You cannot import directly into the desktop version but you can import into the online version, and save the file. Once you have it saved, you can transfer the information to your desktop product. Please use the work around @HelenC12 provided on how to start an online return and import your transactions. As she mentioned, you won't be required to pay anything for the online help.

I would recommend if you do this, save your original return as a different name so you don't lose it in case you decide you don't want to continue in the "new" file.

@lhoydic

[DLamont]

Let me get this straight, I bought the TurboTax Premier so I could report my Crypto gains/losses.   Now I have to start my return over online to use the import function and then transfer it to my desktop and then enter all of the other data again.  Why can't you update the desktop version to allow the crypto data import function?

[w1ndex]

Because they run a racket and pay millions to Congress to keep their shady business afloat.

[Ruzindla]

Has anyone successfully downloaded a txf from this method? I connected to the online turbotax but have yet to find a way to download this .txf so I can just use the darn desktop version.

[Ruzindla]

Ok so I managed to download the .tax2021 file from the online version and open it with the desktop version.

Problem is my existing tax information from all my other sources of income are in a completely different .tax2021 file.

Is there any way to merge the two?

I really do not want to have to start all over again just because I can no longer download a .txf file from Cointracker and there is no import functionality currently present for Cointracker in the desktop version.

I'm running Turbo Tax Premier, I paid more so i could do more but I am still having limitation issues.

Someone please provide a solution and TurboTax please add better functionality for Cointracker in the desktop version,

[RobertB4444]

@Ruzindla  There isn't a way to merge the two files.  The system sees them as two separate tax returns.

Here's the workaround.  You're not going to like it.

Go back to the online version.  Import your desktop file.  Redownload the coinbase into it.  Re-export it to the desktop.

Told you weren't going to like it.

[osp99]

@RobertB4444  Thanks for the workaround.  Do you have a pointer to how to import .tax2021 (from desktop) into online?  

[DaveF1006]

Currently, Turbo Tax Online does not have the ability to import Tax Files. You can import Turbo tax data from online to software but not vice-versa.

@osp99

[Randy Kay]

It looks like online will only upload prior year tax returns and not current year.  Is this true?

[tk94110]

I had a short term loss from crypto currency trade on coinbase. I'd like to use the loss to offset gains in my other accounts. They didn't send me 1099-B. I have their .csv that cannot be imported to the desktop version of TT. There are just too many transactions to enter manually each of them.

Probably because I answered a question about crypt trade, TT created a From 1099-B Worksheet with a name "No Financial Institution" and all fields left blank.  Is it OK if I just fill this form although I did not receive a 1099-B?

[JamesG1]

You may manually enter the coinbase transaction.

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

Follow these steps:

• 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.

@tk94110