You created a CSV file from 2024 CashApp transactions but the CSV file will not upload into TurboTax.
If you are not able to create a CSV file from unsupported crypto source following the directions listed here, you may be able to use the same transaction data to create an IRS form 8949 Sales and Other Dispositions of Capital Assets. The IRS form may be found here.
Capital gains and losses would have to separated by long-term and short-term basis.
- Short-term gains or losses come from the sale of investments owned one year or less.
- Long-term gains or lossses come from the sale of investments held more than one year.
You may enter the summary information instead of each individual transaction. Create a .PDF of the IRS form 8949 to upload into TurboTax Online. Follow these steps.
- Down the left side of the screen, click on Tax Home.
- Click on the down arrow to the right of Review.
- Click on the blue band labeled Review.
- Down the left side of the screen, click Federal.
- Down the left side of the screen, click Wages & Income.
- Click the down arrow to the right of Investments and Savings.
- Click to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).
- Click Add investments.
- On the Let's import your tax info screen, select Enter a different way.
- On the OK, let's start with one investment type screen, select Stocks, Bonds, Mutual Funds, then Continue.
- At the screen Which bank or brokerage, enter the information. Click Continue.
- Do these sales include any employee stock, enter No.
- Do you have more than three sales, enter Yes.
- Do these sales include any other types of investments, enter No.
- Did you buy every investment listed, enter Yes. Continue.
- On the screen Now, choose how to enter your sales, select Sales section totals. Select Continue.
- At the screen Look for your sales on your 1099-B, select Continue.
- You will now be able to enter the total proceeds (sales) and cost basis, along with the sales category. Refer to your IRS form 1099-B, IRS form 8949 and / or Schedule D Capital Gains and Losses for the amounts and category. When finished, select Continue
- You can add additional sales totals by selecting the Add another sales total on the Review your sales section totals screen.
- When completed, close the record and click Continue.
- At the screen Now, we'll help you upload your 1099-B since the IRS requires a copy, browse and select your document. Select Continue.
- When you upload your document, your filing instructions will not show that anything needs to be mailed in, and no IRS form 8453 will be generated.
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