Binance.US - Import is not working nor providing option to connect to exchange to import directly

[scsvel]

Any one had success importing transactions from Binance.US for 2022 tax filing? Tried 10+ times with different browsers, machines, mobile app, etc. but no luck; but asking $69 + State Cost...

If asked for help, whoever calling to help just don't know the technical stuffs to be able to understand the issue itself, and keep on talking same thing and wasting my time.

Appreciate if anyone did this or any workaround? Hoping to get some answers from TurboTax Experts itself as we are paying lot of money for this Premier Service.

[CarissaM]

Please follow the instructions here to clear your cache on the browser, as well as the instructions here to delete your cookies. 

Once done, please close the browser and reopen it, then try to log back in and import. 

Please let us know if you need additional assistance. 

[ldt0168]

Hi @CarissaM 
Thank for your reply.

Unfortunately, The problem still exists after i clear cache and cookies. I have tried on both Firefox and Google Chrome browsers.

Could you please help to take a look?

Like the original poster, I have followed closely instruction in the TurboTax Premier online, to export the BinanceUS yearly transaction to csv file and then import this file into the TurboTax online, but the TurboTax website takes about 15-30 minutes to import and finally reporting that it can't import the file.
I have also re-tried multiple times with different browsers but no luck.

[JamesG1]

You may be able to obtain a .csv file from BinanceUS and upload the  file into TurboTax Premier Online.  Follow these steps: 

• Go to Federal / Wages & Income / Your income / Investments and Savings.
• Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
• Click Add investments.
• At the screen Get ready to be impressed, click Continue.
• At the screen Let’s import your tax info, click Enter a different way.
• At the screen OK, let’s start with one investment type, select Cryptocurrency.  Click Continue.
• At the screen Select your crypto experience, select Upload.  Click Continue.
• At the screen What’s the name of the crypto service, select Other and enter the name of the service.
• Click Continue.
• At the screen Go ahead and upload your crypto CSV file, upload the file.

The .csv should follow this format.

• All the columns from the .csv file were deleted except for the five columns listed below.   
• All other lines other than the headings and the five columns of data were deleted.

•    Purchase Date
•    Date Sold
•    Proceeds
•    Cost Basis
•    Currency Name

.csv file format.

           A                   B              C                  D                   E

purchase date  date sold    proceeds   cost basis   currency name

11/24/2021        2/1/2022    1,779.96     1,916.52         ABFOA

12/7/2021          4/1/2022    1,111.46     1,225.45         ABFOA

11/24/2021        3/1/2022    1,638.54     1,638.54         ABFOA

@ldt0168 

[ldt0168]

Hello @JamesG1 

In the TurboTax Premier online, I followed these steps:

• Go to Federal / Wages & Income / Your income / Investments and Savings.
• Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
• Click Add investments.
• At the screen Get ready to be impressed, click Continue.
• At the screen Let’s import your tax info, click Enter a different way.
• At the screen OK, let’s start with one investment type, select Cryptocurrency.  Click Continue.
• At the screen Select Upload it from my computer, Click Continue.
• At the screen What's the name of the crypto service you used?, select Binance.US.
• Click Continue.

At the Upload CSV screen:

• Follow instruction in the screen to export Binance Yearly Report to CSV file    
• Browse to BinanceUS exported csv file, and upload the file.

In the TurboTax screen, it's showing: "Importing nn transactions from Binance.US"

And then for about 20 to 30 minutes, it's showing: "We could not import this 1099-B"

With above steps, I think TurboTax should already support to import directly from the BinanceUS exported csv file.

Otherwise like your suggested steps, the end user must have manually calculate the everything for every transactions they have, other than than that there are other transaction type like "Stake Rewards", "Convert" ... which really confusing and time consuming.

Thanks

[scsvel]

@ldt0168 I have followed another way to do this, you can do so if you are comfortable with that.

Go to tax.crypto.com

Add a wallet of type Binance.US 

Import the CSV file that you have

Generate the gains and losses report after correcting warnings if any 

In TurboTax, select crypto.com(gains/losses) and import that generated file 

Like I said in my original post,  it's obvious the software has issues and all support persons are keep on pasting some instructions as if we didn't follow or no idea about the software and it's irritating. No one really cares to solve the issue by involving some technical support person.

[JamesG1]

I have seen the following work.

At the screen What’s the name of the crypto service you used?, click the down arrow on the box and select Other (Gain/Loss) or Other (Transactions CSV).  (If one option does not work, try the other).

Enter ‘Binance’ in the box Name.

At the screen Go ahead and upload your crypto CSV file, Browse to select file.

I am not downloading as many lines of data as you are.  Good luck.

@ldt0168 

[ldt0168]

Hello @JamesG1 

First, thank you very much for the info.

I followed your steps But TurboTax Premier requires to convert the CSV headers to TurboTax headers: Currency Name, Purchase Date, Cost Basis, Date Sold, Proceeds

But in the Binance exported csv file , I got following headers:

User_Id,Time,Category,Operation,Order_Id,Transaction_Id,Primary_Asset,Realized_Amount_For_Primary_Asset,Realized_Amount_For_Primary_Asset_In_USD_Value,Base_Asset,Realized_Amount_For_Base_Asset,Realized_Amount_For_Base_Asset_In_USD_Value,Quote_Asset,Realized_Amount_For_Quote_Asset,Realized_Amount_For_Quote_Asset_In_USD_Value,Fee_Asset,Realized_Amount_For_Fee_Asset,Realized_Amount_For_Fee_Asset_In_USD_Value,Payment_Method,Withdrawal_Method,Additional_Note

So the look like Turbotax Premier requires the end users to manually calculate the numbers, also there are other transaction types "Stake Rewards", "Convert" ... which i have no idea on how to form the TurboTax Premier expected csv format file.

It's obvious that the Turbotax Premier software has the issue with BinanceUS csv file import functionality, I think the technical support would help in this case,  it's blocking my tax filing.

BTW: There are not many lines of data (around 50 lines) in my csv file.

Regards

[KatrinaLO]

Did you try removing pop-up blockers and using Microsoft Edge? I have heard people had success with this resolution. Please let us know if this works for you.

@ldt0168 

[brettj]

I am facing this same issue. 

This issue cannot be resolved by clearing cookies, restarting the browser, or anything related. The file upload does successfully complete and can be verified in the network inspector in Chrome. 

The issue is that TT is not able to process CSVs that are produced by Binance.US in the format that TurboTax instructs its paying customers to download.

Please escalate this issue. It will not be solved by restarting browsers, clearing cookies, etc.

[cc1061]

I am experiencing the same issue. Tried using both the tax report and transaction report, and reformatting to the TT preferred format, no luck. Clearing cache and browser history has no effect. I have less than 200 transactions but using Cointracker (which seems to be the only actual solution) would cost me 200$. 

[MoniqueLO_]

Please feel free to contact Customer Support so you can speak with someone who can assist you.

@brettj 

@cc1061 
 

[jparker1112]

I am experiencing the same issue.  Cannot import the CSV from Binance.US even after trying all the troubleshooting steps mentioned.  Turbotax needs to acknowledge this bug and assign it to the team to resolve the defect so we can pay them to submit our taxes.

[TiffanyL]

@jparker1112 

I know for you to be able to properly import your 1099 into TurboTax, your financial institution or brokerage would need to be a TurboTax 1099 partner. After reviewing this list, I don't see Binance.US listed there. Do they happen to go by another name?

[b1gfoot]

Doesn't work for me either. Doesn't seem like TT understands the issue or is willing to fix it. Please escalate this issue