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Travis9x
Returning Member

Unable to add Coinbase Pro transactions

I'm trying to fille 2023 taxes, but have run into a complete stop problem.  I use the Coinbase platform for crypto investing, including their Pro side until it was depreciated during the 2023 year.  The problem is that although TurboTax can connect to Coinbase directly to download transaction data, this only pulls transactions from the "normal" side of the Coinbase exchange, not the Pro side.  So basically I need to add all of my Coinbase and Coinbase Pro transactions as if they were two separate exchanges, but TurboTax will not let me add my Coinbase Pro transaction info.  When I select to add my Coinbase Pro account, it prompts for an API connection, and does not provide any other means of adding it.  Since Coinbase retired the Pro platform, an API connection is not possible.  If I try to add an account via CSV file, TurboTax does not even list Coinbase Pro as an option (only the "normal" Coinbase).  The big STOP here is that without being able to add my Coinbase Pro transactions, the crypto portion of my 2023 taxes are incomplete, and have serious errors.  I cannot finish filing my taxes with these major crypto errors.
Can someone from TurboTax please help resolve this problem??

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5 Replies
PatriciaV
Expert Alumni

Unable to add Coinbase Pro transactions

You may need to create your own CSV file using information downloaded from Coinbase Pro. In this case, you don't need an API or account login for TurboTax. 

 

See these posts for instructions: 

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Travis9x
Returning Member

Unable to add Coinbase Pro transactions

I think you're missing the part where if I try to upload a CSV of my Coinbase Pro transactions, TurboTax does not list Coinbase Pro as an option (you must select an exchange to tie the CSV file to).  I tried selecting just the normal Coinbase for the CSV file, but it says the columns are not formatted correctly, and does not explain further (does not tell me what the formatting problems are, or what the formatting should be).

JamesG1
Expert Alumni

Unable to add Coinbase Pro transactions

In TurboTax Online Premium, at the screen What's the name of the crypto service you used?, are you able to select Other on the drop down menu?  

 

Then are you able to enter Coinbase Pro in the Name box?  Select Continue.

 

 

@Travis9x 

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Travis9x
Returning Member

Unable to add Coinbase Pro transactions

I can do that, yes, and then it instructs to use the TurboTax Universal Template example .CSV to create a custom .CSV using the info from the "unsupported exchange".  I have a .CSV downloaded from Coinbase for my 2023 Pro transactions.

The problem with trying to convert the official Coinbase Pro CSV to TurboTax's Universal Template is that they are entirely different.  I might be able to cobble together some kind of approximation of what TurboTax wants, but then there's the other problem:  I have literally THOUSANDS of transaction records for Coinbase Pro during 2023.  There is NO feasible way I can convert this data manually.

I need a better solution.  I imagine the "normal" Coinbase CSV formatting must be similar to the Pro CSV formatting, so if TurboTax would actually tell me what formatting it is looking for in a Coinbase CSV, I could probably convert the Pro CSV relatively easily.
Or, you know, TurboTax could just support a Coinbase Pro CSV for 2023, seeing as how Coinbase Pro was only retired late in that year and TurboTax did support Coinbase Pro CSVs in 2022...  🤷‍

JamesG1
Expert Alumni

Unable to add Coinbase Pro transactions

Have you investigated uploading your crypto information in the TurboTax Investor Center?

 

TurboTax Investor Center can then be used to create a CSV that will upload into TurboTax Desktop and Online products.

 

At this webpage, click on Learn more to the right of TurboTax Investor Center.  At the next page, click Get Started.

 

 

 

I have had some luck with the product.  Let me know how it goes.

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