Uploading a Coinbase csv file

Upload the .csv file in TurboTax Premier Online by following these steps: 

 

• Go to Federal / Wages & Income / Your income / Investments and Savings.
• Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
• Click Add investments.
• At the screen Get ready to be impressed, click Continue.
• At the screen Let’s import your tax info, click Enter a different way.
• At the screen OK, let’s start with one investment type, select Cryptocurrency.  Click Continue.
• At the screen Select your crypto experience, select Upload.  Click Continue.
• At the screen What’s the name of the crypto service, select the name of the service.
• Click Continue.
• At the screen Go ahead and upload your crypto CSV file, upload the file.

 

Thanks so much for your answer. Unfortunately, the options you note are not shown on my TT.  I am using the desktop version of TT Premier for 2022.  It looks like your instructions are for the online version.  For example, there is no Stocks, Cryptocurrency, Mutual Funds, Bonds, Other options. 

Suggestions?

Thanks,

Bob

Are you able to obtain a .csv file from Coinbase?  

 

If so, you may be able to convert your .csv file to a .txf file and upload it into TurboTax Desktop Premier version.

 

Follow these steps:

 

• Create a .csv file with all transactions using the format shown at Easytxf.
• Used Easytxf to convert the .csv file into .txf file.
• Import .txf file into Turbotax Desktop:   File / Import / From Accounting Software / Other Financial Software (TXF) file /  Continue / Choose a File to Import / Import now.

A 1099-B with your transactions is now created.   This entry can now be edited to include the account details.  Each transaction can be edited as well.

 

@RDPritchard2 

Hi James:

That worked great.  All my Coinbase transactions were imported!  

However, I am still seeing a problem.  After going thru the TT prompts, I get a screen showing the results for my Coinbase account showing the Gross Proceeds as -29K, which is correct, and the Gain/Loss as -72K which is not correct.  Seems like both should be the -29K loss.  

Thoughts?

 

Thanks again,

Bob

 

Also, FYI, before importing, I deleted the columns in the Coinbase csv file except the six columns that the Easytxf instructions said should be the only ones there.

The gross proceeds should not be -29 - the gross proceeds should equal the amount that you sold all of the crypto currency for before your basis is added in.  It shouldn't be negative.

 

Something is wrong with the CSV that you've imported.  I suggest deleting it and re-importing it without deleting any columns and seeing if that helps.

 

@RDPritchard2 

That worked great. I kept removing the columns EasyTxf said shouldn't be there and it imported correctly with the right values.

 

Thank you so much for your help.  I had spend hours on this and would never have gotten there without your help.

 

Thanks again.

Bob

After 3 fruitless calls to the support line, this process of massaging and converting the Coinbase CSV file did the trick.  Why does Intuit say that 'Premiere' supports Crypto when it does not.  Shouldn't have to go through hoops to enter that data, but thank you for providing this method!    The 3rd support person said the product will be fixed 'soon' to truly handle Crypto, but not sure I believe it...