I've been using TurboTax for years now and each year I've been informed by your team that the online version will allow the import of .txf files the next year. Well it's been close to 5 years now and the only version that allows this is the Desktop version. Which honestly is not as UI friendly, feels like the year 2000, and provides not enough ease of use as the online version.
I need to import my .txf file from CoinTracking.info, and each year I'm forced to use the Desktop version. It's 2021, we should not be downloading thick clients on our desktop to get our taxes done. And it's a different version each year - this is such an old school and cumbersome approach. No one else does this. It seems that it's a lack of development in one KEY area. Please tell me that this is allowed in the online Deluxe version? Or it'll be available next year (which will probably not be true). Or at least tell me you have some integration with CoinTracking.info, which is one of the largest cryptocurrency reporting platforms out there.
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I contacted CoinTracking support about this, and they have a way for you to upload your tax report in the TurboTax online version.
Please do the following:
1. Open your tax report generated in CoinTracking.info
2. On the capital gains report, click on the "TurboTax" Button. Then the following page will open:
3. Add now add "&tt_online" at the end of the URL in your browser. For example (don't use this link - yours will be different:( https://cointracking.info/tax/tax_details/TurboTax.php?tax=14&tt_online
4. On this page, you will find the correct files you need for uploading them into your TurboTax online version.
They format it to fit into the Robinhood format that TurboTax allows, but as noted in the instructions don't worry, you will still be able to upload transactions from all other exchanges as well.
This is a workaround that CoinTracking.info has been able to provide thankfully. All because of TurboTax not listening to users to allow .txf uploads in the online version. Thanks CoinTracking.
Will there be a tax professional answering this please?
Neither TurboTax Online nor TurboTax Business supports imports from the .txf file.
https://ttlc.intuit.com/community/entering-importing/help/how-do-i-import-from-the-txf-file/01/25642
Will it ever be supported? How can you put it a feature request, if this hasn't been recommended already.
Is there an alternative to entering my .txf data manually in the online version? Any limitations?
I contacted CoinTracking support about this, and they have a way for you to upload your tax report in the TurboTax online version.
Please do the following:
1. Open your tax report generated in CoinTracking.info
2. On the capital gains report, click on the "TurboTax" Button. Then the following page will open:
3. Add now add "&tt_online" at the end of the URL in your browser. For example (don't use this link - yours will be different:( https://cointracking.info/tax/tax_details/TurboTax.php?tax=14&tt_online
4. On this page, you will find the correct files you need for uploading them into your TurboTax online version.
They format it to fit into the Robinhood format that TurboTax allows, but as noted in the instructions don't worry, you will still be able to upload transactions from all other exchanges as well.
This is a workaround that CoinTracking.info has been able to provide thankfully. All because of TurboTax not listening to users to allow .txf uploads in the online version. Thanks CoinTracking.
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