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gyliph
New Member

TurboTax is making me review every single crypto transaction imported by CSV. Is there any way to avoid this, or review in bulk?

 
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3 Replies
AmyC
Expert Alumni

TurboTax is making me review every single crypto transaction imported by CSV. Is there any way to avoid this, or review in bulk?

The problem is that the IRS expects each transaction looked at in case of any of the transactions were loss due to personal use, such as lunch at Starbucks or payments towards bills, etc. Loss on use of personal property should not be included on your return. The gains are included along with any transactions that were investment related. If you want to do this outside of the program and then enter only two lines, the total short term and the total long term transactions that do qualify, that is an option.

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TurboTax is making me review every single crypto transaction imported by CSV. Is there any way to avoid this, or review in bulk?

HelenC12
Expert Alumni

TurboTax is making me review every single crypto transaction imported by CSV. Is there any way to avoid this, or review in bulk?

The problem is that the IRS expects each transaction looked at in case any of the transactions were losses due to personal use, such as lunch at Starbucks or payments towards bills, etc.

  • Losses on use of personal property should not be included on your return.
  • However. all the gains are included along with any transactions that were investment related.

One option is to do this outside of TurboTax and only enter the total lines for short term and long term transactions that do qualify to be reported. Please see the TurboTax FAQ: How do I enter a large number of stock transactions in TurboTax Online?

 

Source: AmyC

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