Crypto Transactions - Turbo Tax Deluxe (2024)

I always purchase Turbo Tax Deluxe. I know how to enter investment gains and losses. I don't need Turbo Tax Premier to enter investments activity; gains and losses. BUT WHY can't I use Turbo Tax Deluxe for Crypto Transactions; specifically, CSV files??

Downloaded a CSV file from Coinbase, but all the instructions indicate that I import the CSV file if I have Turbo Tax Premier? What?? Is this another money making racket by Intuit? Crypto is difficult enough without having to get this imported into the tax return. Once again, how can I import or upload a Coinbase CSV file into Turbo Tax Deluxe? Possible? Not possible?

Help.

‎September 18, 20239:39 PM

Are you using the Online Deluxe version or the Desktop CD/Download Deluxe program installed on your computer? Yes if you have the Online version you need to upgrade to Premier or Premium to enter Crypto.

FOR DESKTOP

Expert James says you can turn a csv file into a txf file and import it into the Desktop program,
https://ttlc.intuit.com/community/taxes/discussion/re-turbo-tax-premier-desktop-version-and-crypto/0...

If you can't import the txf or csv file into the Desktop program there might be another way.

You can only import crypto into the Online version. For Desktop program you can start a free Premier online return to import it then switch and open your return in the Desktop program. But that would involve starting a new Desktop return and starting over.

Since you have to start a new blank Online return you can start the Online return by transferring 2021 from your computer if you used the Turbo Tax Desktop program last year. Then download the crypto and move the online return to the Desktop program.

If you used the Desktop program last year here’s How to transfer into the Online version. You need to have the prior year .tax2021 file on your computer. Expand the link if you used the CD/download last year........
https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/transfer-last-y...

Then to move the online return to the Desktop program……
First save your return as a tax data file from Online
https://ttlc.intuit.com/community/saving/help/how-do-i-save-my-turbotax-online-return-as-a-tax-data-...

See how to switch to the Desktop program,
https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-th...

After you get the program reinstalled the first thing to do before you open your tax return is to update the program and install any state programs you had. Then open your file. So you first might need to start a fake return to be able to download the state program (go to FILE - NEW). Enter some basic information, then go to the state tab and download the state program. Then try to open your existing return, go to FILE - OPEN

Update - I read your post - have the following question:

If I update my Desktop Deluxe to Desktop Premier, will I then be able to import the CSV crypto file?

In other words, are you saying that I need to convert to Premier "Online" in order to complete the importing of the crypto CSV file? From what I've read (via internet search and the TT website), I can simply convert my Desktop Deluxe to Desktop Premier (and yes, pay the extra $$) and then be able to import the crypto CSV file?

It does not appear that I can remain with Desktop Deluxe. The TXT file conversion is not working.

Rather than languish over this frustrating ordeal, I hope that by converting an paying for Desktop Premier, I will be able to successfully import the crypto CSV file. Yes?

HELP.

do not upgrade to Desktop Premier. It has no more functions than Desktop Deluxe.

It won't help you.

@MaxRLC

Thx for your post.

We were able to obtain a TXF file from Coinbase (via Cointracker) which Turbo Tax Deluxe (CD/Download) version was able to import. We successfully imported the TXF file and the data is correctly reported after reviewing the corresponding forms.

Now, we are struggling with Binance and Cryto.com. It appears that PDF files are obtainable, but because of the extensive transactions, they're not practical. Cannot determine how to convert a PDF file into a TXF file.

Still searching both Binance and Crypto.com for a TXF file download.

Any thoughts?

Have you seen this? You can import a CSV file into Desktop. Hmmm it says you need Premier or Home & Business versions.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/upload-csv-file-crypto-tr...

And this,How to import or enter cryptocurrency

https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/import-cryptocurrency-tra...