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Can no longer upload .CSV file for cryptocurrency translations.

What is the process for importing a .CSV for crypto into the Turbotax desktop software? Last year, it was VERY EASY as you could import a .CSV file.  This year, the desktop software only allows .TXF importing.  Why was that taken away this year?

planger
New Member

Can no longer upload .CSV file for cryptocurrency translations.

Confirming that this is also an issue for me. There is no way to account for decentralized crypto transactions or exchanges that do not provide a 1099-DA. I will never use TurboTax again if I am going to be required to manually enter hundreds to thousands of transactions for each decentralized wallet or exchange. It doesn't seem to make sense to not provide a way to upload transactions in bulk.

Can no longer upload .CSV file for cryptocurrency translations.

Ditto!

cybui1
New Member

Can no longer upload .CSV file for cryptocurrency translations.

Yes I am having the same issue...I read online that Turbotax Online version no longer supports CSV uploads but that I needed to get the Desktop version....so I went out and bought it only to find out that the Desktop version doesn't allow me to upload a CSV! I worked hours on my crypto taxes with Koinly because the 1099-DA doens't capture everything such as Defi transactions. I just need to be able to upload my CSV! Where or how can I do this??? I feel like im just going in circles

JamesG1
Employee Tax Expert

Can no longer upload .CSV file for cryptocurrency translations.

Currently, TurboTax supports the manual entry of IRS Form 1099-DA. We are in the process of enhancing our CSV import and upload features to make this process more seamless.

 

  • Timeline: We expect the new CSV import functionality to be available by mid-February. Please note that this is an estimated target as we finalize the experience.
  • Supported Documents: Once live, the import/upload feature will support both 1099-DA and DigitalAssetGainLoss files.

If you are ready to file now, you can still enter your information manually. Otherwise, thank you for your patience while we get these automated tools ready for you!


@cybui1 

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Can no longer upload .CSV file for cryptocurrency translations.

Hi James, this is a serious issue and really needs to be escalated to the development team quickly.  Do you have the ability to do that?  Or, alternatively, what can I do pursue this further.  It's clearly a bug and is going to be a big issue for a lot of people.   Is there someone technical I can pursue this with other than on this community forum? I talked to a person live about it and she had no idea how to fix it.  How can I get in touch with someone who can fix this?  Thank you!  - Steve

Can no longer upload .CSV file for cryptocurrency translations.

I was able to download the older format (txf) from Koinly and use that to upload into the Desktop version. It was accurate. What a waste of time though since there was no clear information from turbotax on CVS downloads for either version for this year. 

 

Good luck!

Carol

Can no longer upload .CSV file for cryptocurrency translations.

I was unable to use the PDF format as well.

 

Good luck!

Carol

MonikaK1
Employee Tax Expert

Can no longer upload .CSV file for cryptocurrency translations.

I've just been advised that the section of TurboTax that supports CSV files is already in the process of being updated and will be available soon; therefore, no further action to escalate will be needed.

 

@summerscarol

@ss8423OakRunCourt

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Can no longer upload .CSV file for cryptocurrency translations.

The Quicken devs should've had this in place on January 1st,  JUST LIKE LAST YEAR!

 

I'm seriously looking for an alternative to Quicken next year. I'm guessing TaxCut doesn't have this same problem importing .CSVs.

Can no longer upload .CSV file for cryptocurrency translations.

That's right and I don't think people actually understand how crypto trading/transactions work. The 1099-DA form issued by exchanges will never capture transactions made through personal wallets and decentralized exchanges. 

Can no longer upload .CSV file for cryptocurrency translations.

Then what is the purpose of the 1099-DA if you can't rely on the information and capital gain/loss it is reporting? 

JamesG1
Employee Tax Expert

Can no longer upload .CSV file for cryptocurrency translations.

The IRS wants to standardize reporting of digital asset.  IRS form 1099-DA is an attempt towards that end.

 

This IRS website states:

 

Form 1099-DA, Digital Asset Proceeds From Broker Transactions, is used by brokers to report proceeds from (and in some cases, basis for) digital asset dispositions to you and the IRS.

 

Whether or not you receive a Form 1099-DA, you must report all income, gains and losses from digital asset transactions on your federal income tax return.

 

In addition, the website also states:

 

Use the form and your other records to report your income on your tax return.  You must calculate basis before you file your tax return.

 

@cpharrison07 

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Can no longer upload .CSV file for cryptocurrency translations.

Any update on the CSV upload functionality being available? It is already mid February. 

Can no longer upload .CSV file for cryptocurrency translations.

Also still not able to upload any CSVs - when I convert to a PDF file the values are often inconsistent when I upload the converted PDF file.

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