2022 TurboTax Desktop Koinly Import

Koinly Support
#1

I have to redo/amend my 2022 taxes and my previous crypto tax service closed shop. So I imported everything and validated the data on Koinly and have bought the 2022 tax plan. I opened my 2022 TurboTax Premier desktop software where I had my tax info and I see nowhere to import the data. I have a schedule D there for my Fidelity info. How do I import any of the downloadable reports from koinly into TT desktop edition?

I found this article but it only appears to work for the online edition. I cannot find the settings in the desktop edition. Turbotax is not reading Koinly's Form 8949 & Sched D and their Turbotax CSV has different headers. How do I get my crypto activity recorded on Koinly into Turbotax?

#2

Hey @CCUser_2024

Thanks for your message. :wave:t2:

I’m hoping TurboTax hasn’t changed anything in its desktop version recently, so these steps should work:

Step 1:
Navigate to File > Import > From Accounting Software

Step 2:
Select “Other Financial Software (TXF file),” then click “Continue.”

Step 3:

Select Browse File and select the TXF file the user downloaded from Koinly. Once the file has been selected, click Import Now.

Step 4:

Confirm that the file appears as a 1099-B and click the Import Now button once again.

**Something to consider: The report generated by Koinly is aggregated across multiple cryptocurrency exchanges so the Financial Institution name isn’t set. This is to be expected and the user can disregard the Needs Info? column and continue forward by clicking Done.

Step 5:
The import of the crypto transaction data is now complete once they get to this screen. The user may now click Doneand continue entering information for the rest of their return.

I hope that helps! If TT looks different, let me know and I’ll do some digging. :+1:t2: