From everything I've read and experienced, Summ users now have no way to amend a prior year return that had incorrect crypto information. They also cannot create a new return for a prior year. because there are currently no download options from Summ that can be successfully imported into the TT desktop software. Summ has even removed all help article references to any TurboTax desktop product and those that addressed a prior year return.
This past January, TXF file downloads were available for previous years of data in Summ. All of a sudden, without any notice or heads-up, POOF, they were gone, as if those options never existed.
I had spent the prior 6 months getting all my crypto data imported into Summ. Most of that time was spent researching different transactions and trying to categorize everything correctly so it would all balance out. Once it was done and I paid $500 for my Summ subscription, I was allowed to download and review their reports, which was my entire reason for using Summ. I still had a few returns from prior years that needed to have crypto activity entered, and there was a lot. Before I subscribed, Summ's support team told me the TXF files would make crypto reporting the easiest part of the entire filing process, and having these TXF file downloads to import into TT was going to be my saving grace.
The first tax year I had to catch up on was 2021, and everything Summ told me was proven true - it all worked perfectly. I imported the TXF file this past January without any trouble. It took longer to print than it did to enter my crypto activity. We were all just thrilled. But somewhere between that day and when I went to download the TXF file for 2022 (which wasn't long), Summ decided to remove that TXF file download option entirely from the Reports section - FOR ALL YEARS!
The answer that Summ support gave me was that TXF files are "no longer supported in TT", and it was "too confusing" for customers who were working on 2025 and would have trouble trying to import the TXF file they downloaded from Summ. This made no sense, because if it it was true that TT no longer supported it, then where would customers be trying to import it? What they should have said was that it is still supported in TT, it's currently just broken. Apparently, Summ got hammered by confused and upset customers blaming the problem on them, so they're logical conclusion was just to get rid of the TXF file download entirely and with no regard to leaving that download option available for the prior years that TXF importing does still work in TT.
I have all my returns completed except for the crypto imports, but the next thing they told me was I would need to start these over online for each prior year I needed to report crypto activity. They said it would be "a piece of cake". I could just download the appropriate Summ PDF for that year, start a return in TT online for that year, and then upload the Summ PDF file. Then, I should see all my crypto data where it needs to go and could download that tax file to my desktop software and finish it there. It was like they were just asking us to let the dog out or something insignificant. No consideration was given to the fact that they were telling us to throw away all the work and the data we'd been entering and documenting on those 3 prior year returns (and it was an insane amount of data). Just start over, they said.
Maybe the Summ support person was making up the reason they got rid of the TXF file download for all years, I honestly just don't know. However, what I do know is that Summ clearly wasn't considering their customers who still needed to get their prior years of crypto activity reported correctly and would either need to create or amend a prior year return in TT, where TXF file importing still worked just fine. It was only 2025 that had the problem.
Nevertheless, the direction from Summ support was wrong, because you can't create returns online for a prior year. So now I'm really hosed. I don't have anything to import into the remaining prior year desktop returns we've completed, and TT doesn't provide the online software for prior years to import the PDF into, assuming that would even work. Neither Summ or TT provide a workaround that does what it's supposed to for prior year returns, at least not that I have found yet. Summ did suggest I hire a tax consultant to enter all my data, but if I could afford that, I wouldn't have needed to subscribe to Summ in the first place. I am used to seeing problems in TT every year. Some issues do eventually get addressed, but certainly not all. A few issues have existed since the day they released the first version of TT for Windows, some time back in the 90's. Yeah, I've hung around all this time, mostly because I was used to it and it was easier than learning a new tool. But I have yet to figure out how TT prioritizes bug fixes, especially after this TXF file import debacle. Things I would expect to be addressed immediately are sometimes never addressed at all.
The reality for Summ customers like me is that if I can't use any of their import files to report my crypto activity, then I basically just pay for the use of overpriced crypto accounting software that I can't do anything with. It's nice how Summ will record every single change you make, no matter how big or small, in any one of your transactions. They also allow you to go back and undo any of them at any time - in any order and without having to walk back every change. Not even Windows does that! That's some serious programming and accounting work. Plus, they keep every transaction I ever entered for every year and provide reports for all those years in any filtered way I wish at any time I want. Again, this takes some serious programming and accounting work.
With that in mind, I'm somehow supposed to believe that they removed this all-important TXF file creation feature for prior tax years and just threw the code away. Yeah, right. They don't throw ANYTHING away, and yet nobody there will take 5 minutes and create the 3 TXF files I need for prior years to help save us an enormous amount of time and avoid hiring a tax consultant.
I'm at my wits end with Summ and would love to hear if anyone knows of a workaround for getting data from Summ into each of the 2022-2024 desktop versions of TT.
I would happily enter everything manually if I knew I was following the right steps, but as it is now, the only steps that are showing for manual entry are all for TT 2025 and only for an online return. I can't translate anything I've found to what I see in the desktop versions, for current or prior year returns.
I've considered switching to TaxAct, as Summ does have a CSV download for them. If anyone has any feedback they can provide on how that went, I would appreciate you sharing your experience.
Otherwise, thanks in advance to anyone who can offer any suggestions or knows how I can resolve our issue of getting Summ data into our prior year TT returns. Whether you can advise on a way to import the data, or you know the step-by-step process on which Summ reports to use and how to enter everything manually, and then how to confirm it was done correctly. Either way, we aren't afraid of a little work. We just have to know we are doing it right.
My apologies if you read this far and were hoping we had found a solution.
