TurboTax has a limit of 4000 transactions to be imported (for capital gains reporting). Users who have more than 4000 transaction can download the TurboTax Online File which will group sales by asset, and then manually upload this to TurboTax.
Follow these steps to manually upload your data from CoinTracker to TurboTax using a file export.
Step 1: Downloading Your TurboTax Online File
- Navigate to the Tax page on CoinTracker.
- Download the 'TurboTax Online File' in the Tax Reports section. This specific file format groups your transactions by asset and sale type, and it provides a consolidated view with the earliest received date for each group to minimize row counts.
Step 2: Preparing Your File for Upload
Adjusting Number Formats
For Google Sheets:
- Open the CSV file with Google Sheets.
- Select all numbers using Ctrl + A.
- Go to Format > Number > Number and adjust the format to show two decimal places (0.00).
- Save your changes.
For Excel:
- Open the CSV file with Excel.
- Select all numbers using Ctrl + A.
- Click on the Home tab, then Number, and adjust the format to 0.00.
- Save your file.
Note for Apple Numbers Users: No number format changes are required if you are using Apple Numbers.
Step 3: Uploading Your File to TurboTax
- Within TurboTax, navigate to the section dedicated to cryptocurrency transactions.
- Select the option to "Enter a different way" when prompted for how you'd like to import your transactions.
- Click on "Cryptocurrency."
- Choose "Upload it from my computer."
- Select CoinTracker as your source from the dropdown menu.
- Find and select the CSV file you've just prepared.
- Complete the upload process by confirming your selection.