How do I enter my crypto taxes from a company such as Koinly? (.txf)
Once you've downloaded the TXF file (Koinly TurboTax CD/DVD file), then follow these steps:
1. Navigate to File > Import > From Accounting Software
2. Select "Other Financial Software (TXF file)," then click "Continue."
3. Select Browse File and select the TXF file the user downloaded from Koinly. Once the file has been selected, click Import Now.
4. Confirm that the file appears as a 1099-B and click the Import Now button once again.
Something to consider: The report generated by Koinly is aggregated across multiple cryptocurrency exchanges so the Financial Institution name isn't set. This is to be expected, so you can disregard the Needs Info? column and continue forward by clicking Done.
5. The import of the crypto transaction data is now complete once you get to this screen. You may now click Done and continue entering information for the rest of your return.