How can I import the CSV file generated from Coinbase? Error: "No headers found in this file". Modified so headers are in first line. Same error.

[mgeorge1]

Is this supported or not?

[fanfare]

coinbase makes available two or more reports.

make sure you selected the correct report.

[mgeorge1]

I've exported the CSV from Coinbase via the following:

• Transaction History
• Generate Report
• In the three drop-downs choose 2020, All Assets, and All Transactions
• Clicked "Generate Report" next to CSV report
• Clicked "Download" next to CSV report

At this point the CSV downloaded contains 

"You can use this transaction report to inform your likely tax obligations. For US customers, Sells, Converts, and Rewards Income, and Coinbase Earn transactions are taxable events. For final tax obligations, please consult your tax advisor.

Transactions
User,[email address removed],xxxx

Timestamp,Transaction Type,Asset,Quantity Transacted,USD Spot Price at Transaction,USD Subtotal,USD Total (inclusive of fees),USD Fees,Notes

...

"

which requires stripping the additional text at the top of the file (the non-CSV part) so that the first line contains the headers (Timestamp,Transaction Type,Asset,Quantity Transacted,USD Spot Price at Transaction,USD Subtotal,USD Total (inclusive of fees),USD Fees,Notes).

This still does not work. Is this the right report that you alluded to? If not, could you provide the steps that you used in Coinbase to get this to work? Stating that there are two or more reports and not indicating how to produce them is not a helpful answer.

[mgeorge1]

Any ideas on this? If TurboTax cannot handle importing a CSV file from Coinbase that is perfectly fine. I just need to know so I can look elsewhere for a service that can.

Thanks!

[AkinaLO]

Unfortunately, Coinbase no longer supports the direct upload of your CSV file to TurboTax, resulting in an error message for some users.

Coinbase recommends using CoinTracker to calculate your cryptocurrency gains and losses and to access your CSV file.

[mgeorge1]

Then seems like both companies will need to update some things.

On Coinbase site: "You can e-file your crypto gains/losses with the rest of your taxes. We’ve partnered with TurboTax to save you $15 on TurboTax Premier, which easily handles cryptocurrency gains and losses."

They partnered with TurboTax for them to recommend using CoinTracker instead? Makes no sense.

Also, if this doesn't work, then maybe you can save some people time, like me, by not including a giant "Coinbase" button that takes you to a page tempting you to upload a CSV file that, as you just stated, is no longer supported.

[Odius85]

Cointracker provides the option to download two types of CSV files, Transaction History and Capital Gains. The Capital Gains CSV file is the one that will upload into TT correctly. This can be found by going to the "Taxes" tab at the top of the screen and selecting "Tax Center." Then, scroll down until you see "Tax Reports" on the right hand side of the screen. Click on "CSV Reports" and download "Capital Gains CSV." This should result in a successful upload of your transactions into TurboTax

[mgeorge1]

I appreciate the response @Odius85 . However, the Coinbase UI, at least for the US in 2021, doesn't look like that at all. Maybe you are in a different country or using Coinbase Pro or have a screenshot of the UI from 2020? For me that option is not available.

I should note that this worked flawlessly for me last year. 

[Odius85]

Sorry for the confusion. Unfortunately, Coinbase does not support the exporting of Capital Gains in a CSV format. They are advising customers to use Cointracker to export this information. The UI pictured is from Cointracker.

[Odius85]

@mgeorge1 

[mgeorge1]

Ah, my mistake. I read your response wrong @Odius85 . 

You are absolutely right.  Cointracker actually does work as you suggested. This option costs $59 to format the information in a form that TurboTax can actually import.

My previous points about TurboTax / Coinbase still stand. If I pay someone to do my taxes in the real world they don't tell me to go away and spend $59 first to gather the information they need to do their job. Quite ridiculous. As is the entire tax system in general. But whatever.