Software is supposed to make life easier. Cointracker prepares a TXF file to import into TurboTax. After doing so, I have 500 errors to review. I have to select Yes for 'Asset is Digital' is manual. After doing so, another required field must be entered creating an additional 500 errors to review. I must now enter Name of Digital Asset even though the Property Description was imported and states an amount of BTC for example. When I enter BTC in the Name of Digital Asset field, it then overwrites the Property Description with the same value and then it wipes out the useful information within that field indicating the amount of BTC.
I researched ways to correct the import file, but it appears there is nothing that can be done. It appears TurboTax doesn't support a TXF file that has these additional fields.
I hope I am wrong. How do I import this data without having to clean up 1000 errors while also destroying information in the property description field.
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I have been on hold for hours with TurboTax. No solution so far. TXF appears to be an old file format that hasn't changed in years. I don't understand how it is acceptable to state you support cryptocurrency when the software flat out doesn't work. Seems Intuit hasn't even tested their software.
I figured out a way to mark Yes for all Transactions by editing the main form as shown in the screenshot below.
But I still have the other problem where TurboTax requires me to enter 'Name of Digital Asset'. When I do this, the application then overwrites the 'Property Description' with the same value I entered for Name of Digital Asset. This is UNACCEPTABLE.
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