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Hi, I’ve called for support 4 times and have been unable to find a solution. The support staff is friendly, but unable to provide insight to how to fix this, what might be the cause, or when to expect a resolution on the backend from Turbotax. It’s been a dead end, unfortunately.
Sometimes hidden formatting on a .csv file can create issues. As you may know, you can only enter 50 transactions manually, or you can import up to 2251 transactions. If you have more than that to report, you can use a private accountant to reconcile your crypto transactions and aggregate them for your return, or you can reconcile them on your own with a transaction aggregator. There are many services online that can help you aggregate your transactions and help you calculate your gains and losses.
yes, after struggling with this yesterday I found the solution. TurboTax doesn't tell you WHICH CSV to upload, so that's where it gets confusing. Cointracker provides transaction history CSVs AND Tax form CSVs. You need to use the tax form Capital Gains CSV, and TurboTax will accept that one. I paid for the Cointracker tax plan ($44), so you may need to do that to get the Capital Gains CSV.
I wish TurboTax would clarify that in their instructions to save a lot of headaches.
Using CoinTracker, downloading Capital Gains CSV report AND uploading a CSV format specified as "Windows Comma Separated" (.csv) was the key. I use a Mac and the file in the original *.csv file extension must be saved to "Windows Comma Separated" (.csv) for it to be accepted.
Whatever you do, do not use Cointracker for Coinbase Pro!
Cointracker's cost basis calculation is WAY WAY off. It's not even close to what it should be. Cointracker also does not deduct Coinbase Pro's exchange fees (which are tax deductible). For me on 5 trades, Cointracker's calculations were off by >120%! If i had not of noticed the lines not equaling each other as well as not matching my Coinbase Pro balance, Cointrackers bogus csv would have cost me an extra $1090 in tax!
Cointracker is aware of this problem since early 2020 and have not fixed their calculations.
I just spent a few hours preparing the data manually in Excel, which was a pain. But the tax savings is worth it. Not to mention possibly avoiding an audit from using a fraudulent csv from Cointracker. You don't have to compile it as a CSV file either for getting the data into TurboTax, you can enter the exchanges manually.
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