Importing your TokenTax tax forms into TurboTax
You can seamlessly integrate your crypto tax data from TokenTax into TurboTax.
On your TokenTax dashboard, click Download Tax Forms and select Generate TurboTax CSV to get the CSV that you will upload to TurboTax.
TurboTax only allows up to 250 transactions for their web product. If you have more than 250 transactions, use TurboTax desktop instead or skip to below this list for further instruction.
On TurboTax, select I Sold or Traded Cryptocurrency.
Click the TokenTax tile when asked, “Let’s get your cryptocurrency info.” Then, upload the TurboTax CSV you downloaded from TokenTax.
If you had more than 250 transactions, TurboTax suggests that you enter total gains and losses manually. Full instructions are available via clicking “What if I have more than 250 transactions?” below the CSV upload section on TurboTax. Otherwise, consider the desktop instructions below, where up to 3,000 transactions are allowed.
If you don't want to enter the rest manually:
You can also physically mail the Form(s) 8949 (or a spreadsheet in the exact same format), along with Form Form 8453. You need to do this when you choose the summary transaction method, which is why TurboTax is prompted you with this information.
For e-filed returns: within three days after the IRS has accepted your return, mail the Form 8949 generated by TurboTax, a copy of the summary statements provided by your broker, and the Form 8453 generated by TurboTax, to the following address:
Internal Revenue Service Attn: Shipping and Receiving, 0254 Receipt and Control Branch Austin, TX 73344-0254
TurboTax allows you to upload your transactions in their Desktop app with a TXF file.
How to import your transactions into TurboTax:
On your TokenTax documents tab, create and download a Form 8949 TXF.
On TurboTax, first click Personal Income -> I’ll choose what I work on -> Investment income -> Stocks, mutual funds, bonds and other.
Click “Yes” when asked if you have you sold any investments in 2018.
Then click “Yes” when asked if you received a 1099 (even if your exchanges didn’t give you one).
Scroll down below the financial partners window and select “I’ll import a TXF form.”
Then select the TXF file you saved from TokenTax.
TokenTax does the work so you don’t have to.
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