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Upload Your Tax Report - TurboTax Desktop/CD Version
Upload Your Tax Report - TurboTax Desktop/CD Version

If you're filing your taxes using the Desktop Download/CD Version of TurboTax, learn how to upload your tax report from CoinLedger

David Kemmerer avatar
Written by David Kemmerer
Updated over 3 weeks ago

Important Note: You will need TurboTax Premier or Home & Business version of TurboTax to be able to successfully import your gains and losses.
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Reminder: Please download your TurboTax Desktop-compatible TXF file before importing.

Step 1:ย 

You can upload your TurboTax-compatible tax report into the desktop version of TurboTax so that you can complete your entire tax return.

From the Tax Reports page, select Tax Filing Software and then click to Generate the report for TurboTax Desktop (TXF), as shown below. If you don't see the TurboTax Desktop option, scroll down.

Step 2:
Within TurboTax Desktop navigate to File > Import > From TXF Files.

Step 3:
Next, press Choose a TXF File.

Then, select your TXF file from CoinLedger. After that, press Continue.

Step 4

Do not uncheck any items on the next page. Press Import Now to continue.

NOTE: It is normal for the file to appear as a 1099-B.

Step 5

The process of importing your data from CoinLedger into TurboTax is now completed! Continue filing your tax return by entering the rest of your personal information.

Needs Review Warning

During the process of filing your taxes, you may see a Needs Review warning next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other on the Federal Taxes > Wages and Income tab.

DO NOT PANIC. This is not an error and there is nothing inaccurate about your calculations. Rather, Needs review is a standard warning that TurboTax shows next to all imported files. You can safely ignore this warning and continue on with filing your tax return.

Note that it is completely unnecessary to click Update and resolve this warning. You can safely ignore this warning and continue on with filing your taxes.

However, if you insist on resolving it, please follow these steps.

Step 1

Click Update.

Step 2

On the next page, click Review on the Stocks, bonds, etc. box shown on your screen.

Step 3

You will be asked to enter a Bank or brokerage name on the next page. Since the report generated by CoinLedger is comprised of data aggregated across multiple cryptocurrency exchanges, there is no Financial Institution name set, and this is to be expected (because you likely interacted with multiple different crypto exchanges or blockchains).

You can simply enter Other under Bank or brokerage, and disregard the other fields. Then press Continue.

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