In TurboTax, filing for 2023 taxes, under "whats the name of the crypto service you used" I only see drop down box for "other". There is nothing for "other gain/loss" etc. And I see an options for CSV type: Gain/loss RAW transaction activity Which one of these do I click?
Video should be extended to show how to import crypto mining income, dao and nfts from coinledger to TurboTax. This video is only showing how to import capital gain or loss from coin ledger into TurboTax.
Right none of these guys shows how to do nfts just show basic things that most people know. Show us how to add phantom wallet for solana for nfts or some other chains. Don't just do basic thing that we actually know.
Thank you so much for this amazing video! I need some advice: I have USDT in my SafePal wallet along with the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How can I transfer them to Binance?
I have TurboTax Premier and my screen does not look like yours. I do not get the grey menu on the left of the screen and my screens don't look like yours. I'm using Windows. Any idea why?
*HELP!* I have a capital gains CARRY OVER loss of $28K from last year. Can you do a video on how/where (Schedule D - turbo tax software???). I don't want to pay a tax preparer $750 just because I do not know where to include my cap gains carry over loss from a former year. Maybe title your video 'Carry over losses - how to'. Thanks! Ann
So, our cryptos are mixed in with our stocks, right? I'd like the IRS to see that I reported my cryptos, but if it's just a bunch of abbreviations in the descriptions, then there is no distinction between stocks and cryptos, correct? They are all reported on the same form together, right?
Right - CoinLedger is a service that allows you to track your portfolio and taxes for free, but payment is required for our tax reports. You can see our full pricing details here: coinledger.io/pricing
@@coinledger So I am using Turbotax and Coinledger with my Uphold Crypto account. I dont understand the Capital Gains part. I only use uphold and i have traded within uphold Bitcoin to Etherium, XRP to Bitcoin etc.. But i did not cash it out, all i did was trade one for another. It says my Capital Gains are $626,500 and Total Income was only $85. In 2023 in only Cashed Out $700 total. All the other transactions were just trades i made within Uphold. My Turbo Tax is saying I owe $220,000 What!?? I dont understand this because I only cashed out $700. How do I owe more $$$ than I have.
@@Heilig.x Did you upload the "TurboTax Online" report from CoinLedger? The raw transactions.csv file won't be compatible as you need the report csv file.
Hey! A little more work is required to get crypto-related ordinary income in. We break it down in this guide! help.coinledger.io/en/articles/3733271-enter-crypto-income-turbotax-online
In TurboTax, filing for 2023 taxes, under "whats the name of the crypto service you used"
I only see drop down box for "other". There is nothing for "other gain/loss" etc.
And I see an options for CSV type: Gain/loss
RAW transaction activity
Which one of these do I click?
Update:
I clicked "other," and "CSV gain/loss"
(NOT raw transaction activity).
It worked💪
Video should be extended to show how to import crypto mining income, dao and nfts from coinledger to TurboTax. This video is only showing how to import capital gain or loss from coin ledger into TurboTax.
Here is a help article covering that! help.coinledger.io/en/articles/3733271-enter-crypto-income-turbotax-online
Right none of these guys shows how to do nfts just show basic things that most people know. Show us how to add phantom wallet for solana for nfts or some other chains. Don't just do basic thing that we actually know.
Turbo Tax will not accept a CSV from any source. Gives an error every time (names of columns are wrong)
Did you ever figure it out ? I’m having the same exact issue even used the template they give you !
Ha I g the same issue.
Thank you so much for this amazing video! I need some advice: I have USDT in my SafePal wallet along with the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How can I transfer them to Binance?
This was no help at all
Didn’t help. It just keeps saying the network timed out and to try again.
I have TurboTax Premier
and my screen does not look like yours. I do not get the grey menu on the left of the screen and my screens don't look like yours. I'm using Windows. Any idea why?
*HELP!* I have a capital gains CARRY OVER loss of $28K from last year. Can you do a video on how/where (Schedule D - turbo tax software???). I don't want to pay a tax preparer $750 just because I do not know where to include my cap gains carry over loss from a former year.
Maybe title your video 'Carry over losses - how to'.
Thanks! Ann
This seems a bit confusing. I think there must be a service that handles all this tax filing stuff in a simpler way.
You forgot the part where it costs $99 to generate the file lol
So, our cryptos are mixed in with our stocks, right? I'd like the IRS to see that I reported my cryptos, but if it's just a bunch of abbreviations in the descriptions, then there is no distinction between stocks and cryptos, correct? They are all reported on the same form together, right?
That's correct
I do not see an option to obtain this document for free. It requires me to pay $45 to access the CSV file. Am I missing something? Thanks
Right - CoinLedger is a service that allows you to track your portfolio and taxes for free, but payment is required for our tax reports. You can see our full pricing details here: coinledger.io/pricing
I have the same problem
@@coinledger I thought it was free for voyager customers?
I followed the written instructions and it didn't work. Following this video, it worked. Thanks!
Glad to hear! Thanks for feedback!
@@coinledger So I am using Turbotax and Coinledger with my Uphold Crypto account. I dont understand the Capital Gains part. I only use uphold and i have traded within uphold Bitcoin to Etherium, XRP to Bitcoin etc.. But i did not cash it out, all i did was trade one for another. It says my Capital Gains are $626,500 and Total Income was only $85. In 2023 in only Cashed Out $700 total. All the other transactions were just trades i made within Uphold. My Turbo Tax is saying I owe $220,000 What!?? I dont understand this because I only cashed out $700. How do I owe more $$$ than I have.
I don't feel safe entering my email and password for the exchanges
Can you do one with cash app because I have bitcoin in there
Turbotax is asking to upgrade to premium ($119) to process my crypto/stock taxes. Why is it not free?
Unfortunately, TurboTax charges money if you are filing capital asset gains/losses.
can you do a video on linking wallets, Keplr, Yoroi and NEAR?
Is there a way to do this for TT desktop as well??
Yes! More info here: help.coinledger.io/en/articles/2657181-upload-your-tax-report-turbotax-desktop-cd-version
how do I input crypto income or interest? this only seems to work for loses/gains
Right - I have asked this question through their website and I'm not getting any answers.
Here you are! help.coinledger.io/en/articles/3733271-enter-crypto-income-turbotax-online
Its ridiculous that: Crypto investors has to pay for their own trading information.
How can do it in the TurboTax PC Software? I am using the desktop version. Thanks!
This is amazing, Im older but I love to learn! I sold my 2 Ethereum at a very large loss. Will that get also get imported pls?
More the 50% i didn’t understand and even i trying to do the same what you did is kinda different😢
Weird because I just did that and it said the header wasn’t compatible… what do you do at that point? Went through and did everything you just did.
I have this question too. The file is not compatible with the software.
same problem. When can we expect this to be sorted?
Did you select "Other (Gain/Loss)" or "Other (Transactions CSV)" from the TurboTax dropdown?
@@coinledger I chose gains/loss when that didn’t work I tried transactions. Neither worked.
@@Heilig.x Did you upload the "TurboTax Online" report from CoinLedger? The raw transactions.csv file won't be compatible as you need the report csv file.
What about from coinbase pro to turbo tax?
What about the income? I see how capital gains are added - but what about the INCOME side? How is income uploaded?
We didn't cover it in this video, but we go over it in this help guide! help.coinledger.io/en/articles/3733271-enter-crypto-income-turbotax-online
@@coinledger Yes - I see it now. Super easy to enter as one total. Great product, thank you!
I live in Guam, and there's no option on the state and wont allow me to proceed
I was just in Guam, so I know how it is. You can still fill in the info with TurboTax, you'll just have to physically mail it out
What about voyager ?
Staking profits are also included there, oh it has to be done separately.
Thank you.
Besides capital gains what about other crypto income into turbo tax such as mining staking interest and rewards for all the different platforms used?
Hey! A little more work is required to get crypto-related ordinary income in. We break it down in this guide!
help.coinledger.io/en/articles/3733271-enter-crypto-income-turbotax-online
how to contact u for cooperation?