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Why does the new feature to import crypto information from the Kraken exchange fail every time?

I have tried in both Brave browser and Firefox with the same result. I enter my API keys when prompted, and turbotax appears to successfully connect to my Kraken account. It then shows a progress bar, says it is importing a specific number of transactions, and says it will take 1-3 minutes. The progress bar quickly fills up all the way to about 99%, then then... nothing. It hangs at that "almost done" point for 5 minutes or more then reports "We could not import this".

As I am having the exact same issue on repeat attempts in multiple browsers - and as the kraken import feature just became available yesterday - I'm almost certain this issue is a turbotax bug and not a problem on my end. I can find no other way to report this problem to Intuit outside of the community support option.
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3 Replies
JamesG1
Expert Alumni

Why does the new feature to import crypto information from the Kraken exchange fail every time?

In TurboTax Self-employed Online, you may be able to upload a .csv file 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 Other and enter the name of the service.
  • Click Continue.
  • At the screen Go ahead and upload your crypto CSV file, upload the file.

The .csv should follow this format.

 

  • All the columns from the .csv file were deleted except for the five columns listed below.   
  • All other lines other than the headings and the five columns of data were deleted.

 

  •    Purchase Date
  •    Date Sold
  •    Proceeds
  •    Cost Basis
  •    Currency Name

 

.csv file format.

 

           A                   B              C                  D                   E

purchase date  date sold    proceeds   cost basis   currency name

11/24/2021        2/1/2022    1,779.96     1,916.52         ABFOA

12/7/2021          4/1/2022    1,111.46     1,225.45         ABFOA

11/24/2021        3/1/2022    1,638.54     1,638.54         ABFOA

 

@mikjosjon-gmail- 

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Why does the new feature to import crypto information from the Kraken exchange fail every time?

Yes, I am aware of the option to import a .csv file.  This defeats the purpose of the crypto import, though; it's supposed to be convenient and quick. If I have to download one .csv file from cracken, create a new spreadsheet, then manually copy over a bunch of values into the different format, then I'm practically just entering all of the information manually anyway. This is not an adequate solution to the failure of a promised "feature" to work. Is Intuit aware of and addressing the problem?

CarissaM
Intuit Alumni

Why does the new feature to import crypto information from the Kraken exchange fail every time?

Are there more than 10,000 transactions imported? As Turbo Tax will only allow up to 10,000 to import. @mikjosjon-gmail- 

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