Importing Your CryptoTrader.Tax Report Into TurboTax Online With More than 250 trades

If you have more than 250 taxable events and still want to file with TurboTax Online, they suggest following the below steps. You will still need to keep your 8949 summary from CryptoTrader.Tax for your records and use the report to enter your aggregated long term and short term capital gains information.

Download your TurboTax Online CSV that CryptoTrader.Tax exports along with the Short Term Gains and Long Term Gains CSV.

Available exports from CryptoTrader.Tax

Sign into TurboTax and go through the setup steps. When you get to the page that says “Let’s get an idea of your financial picture”, select I sold or traded Cryptocurrency.

Once you arrive at the step where you can select the CryptoTrader.Tax logo, do not select the logo, instead select “I’ll type it in myself”.

TurboTax recommends that you lump all of your transactions into one line and one asset type (even if you traded across multiple cryptocurrencies).

Enter one row for long term capital gains and one row for short term capital gains (you can omit a row if one doesn’t apply to you).

In the example below, the first row is for long term capital gains (assets held longer than one year) and the second row is short term gains.

For your short term gains/ loss line — download your Short Term Gains CSV that CryptoTrader.Tax exports for the required year. Open the file in excel or google sheets and sum up all of the cost basis’ for each transaction. You can use the Excel Sum function to do this.

This number is your Net Cost Basis (i.e. all of your cost basis’ added together). This is the number you should put on the cost basis line.

Follow the same approach for Long Term Gains/ Losses using the Long Term Gains CSV that CryptoTrader.Tax exports

Follow the same approach you took for Cost Basis above

Sum together your Proceeds for each transaction from the Short Term Gains CSV

This number is your net proceeds and it is the number that you should put on the proceeds line

Follow the same approach for Long Term Gains/ Losses using the Long Term Gains CSV

Click continue and review the summary. Your total net gain/ loss should match your CryptoTrader.Tax files.

*This post is for informational purposes only and should not be construed as tax or investment advice. Please speak to your own tax expert, CPA or tax attorney on how you should treat taxation of digital currencies.

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