CoinLedger exports a CSV file that is specifically formatted for TurboTax Online. Follow this guide to import your crypto trades into TurboTax Online.
NOTE: First, be sure to download your TurboTax Online-compatible CSV file from our Reports Page.
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Navigate to TurboTax Online and select the Premier or Self-Employment package
Both of these packages support the tax reporting of cryptocurrencies.
Answer the initial prompts and questions.
Upon first sign-in, TurboTax Online will ask you to complete some initial prompts and fill out your basic information. You are not able to jump forward within the app until this basic info is complete.
Select for cryptocurrency wherever prompted.
On the first prompt select I sold stock, crypto or other investments.
On the prompt titled "How about any of these financial changes in 2022?" select I sold or traded cryptocurrency
Navigate to the Cryptocurrency section
To move forward into the cryptocurrency section within the app, navigate to Federal > Wages & Income > Investments and Savings
Select Yes to continue with your crypto imports
Now TurboTax will ask some more questions about your trading activity. Select Yes if you used more than one crypto exchange/platform.
Select Yes that you did use a crypto tax service.
Select Enter a different way and Cryptocurrency on the next screens.
Select Upload it from my computer
IMPORTANT: Select Other (Gain/Loss) as your platform.
NOTE: If you do not select Other, and enter CoinLedger under the Name, the import process for TurboTax will fail. You MUST select Gain/Loss or 1099-B and NOT "Transactions" under the CSV type menu, as shown below.
Upload your TurboTax Online file
Review your imported crypto data and all looks correct, click Continue
Getting Past the Review Section
Important Note: Do not be alarmed if TurboTax asks you to review each imported crypto transaction individually. You can skip this individual review process by following these steps.
Here is the review screen you might see which TurboTax refers to as the completecheck™ to-do list.
Each individual crypto transaction has the option to review, but you can skip this.
Simply scroll to the bottom of the page (sometimes hundreds of transactions) and click Continue.
Click Continue again to get past this warning.
Amending for Previous Years
Important Note #2: TurboTax Online has disabled the ability to upload CSV files when amending a return for previous years. If you need to amend, please follow the TurboTax Desktop Guide.
We've also detailed the step-by-step process for uploading your report into TurboTax Online in our blog post here.
You can also checkout the video below!