We have worked with TurboTax to develop a process you can follow to complete your 8949 import if you have more than 4000 rows of data.
To start with, you'll need to download the right type of file for your circumstance. TaxBit has developed a specific output version of the forms 8949 for this purpose. In the TaxBit app it's labeled TurboTax Aggregated CSV (How do I download my Tax Forms?). You should have a CSV and a PDF that is exported if you have over 4,000 transactions.
In this article:
How to Upload your 8949 to TurboTax Online
Please Note: Even though the wording on TurboTax refers to stocks, traditional finance, and 1099-B's you are in the correct place to upload your 8949.
Step 1: As you're going through the flow of filling out your information, you'll end up under the "Wages & Income" section. You’ll hit “Continue” on this page.
Step 2: You’ll select “Enter a different way”.
Step 3: This step only applies if you're using the aggregated form for users with over 4,000. You’ll click the tile that says “Stocks, Bonds, Mutual Funds” and then hit “Continue”.
Step 4: Under Bank or brokerage you’ll enter “TaxBit - Crypto Aggregator”, and leave the other two fields that say "(optional)" blank. Then you’ll hit “Continue”.
Step 5: You’ll need to fill out these questions accordingly:
a. Select “No” for “Do these sales include any employee stock?”.
b. Select “Yes” for “Do you have more than three sales on your 1099-B?”.
c. Under “Do these sales include any other types of investments?”, you’ll select “No”.
d. Under “Did you buy every investment listed on your 1099-B?”, you’ll select “Yes” and then hit “Continue”.
Step 6: You’ll select the “Sales section totals”, and then hit “Continue”.
Please Note: It’s very important that you select this option because this is what will prompt you at the end of this process to attach your 8949.
Step 7: You’ll see this screen with some information about reviewing your sales, and then you’ll hit “Continue”.
Step 8: Make sure to pull up your aggregated 8949 CSV which should look similar to this:
Step 9: You’ll select from the dropdown what matches on your CSV, and the you'll fill out the following fields in TurboTax based off of the information on your CSV.
Step 10: After you’ve entered the first row of your CSV into TurboTax, if you have more rows on your CSV to enter you’ll hit “Add another sales total”.
Step 11: Once you’re done entering all of the information from your CSV into TaxBit, you’ll hit “Continue”.
Step 12: This is the point where you’ll take the PDF of your 8949 that you got from TaxBit and upload it to TurboTax. After you’ve uploaded your 8949 into TurboTax you’ll hit “Continue”.
Please Note: When you go to import the PDF of your 8949, you may run into a file size limitation. If you run into this, you will need to mail in your PDF copy of the 8949 with a form 8453. Click HERE to jump to the section on how to mail your form 8949.
Step 13: After you’ve completed all of the steps, you’ll land on a page like the one below and hit "Confirm".
You’ve successfully completed uploading your 8949 information from TaxBit into TurboTax!
What if I receive an error that the size of my 8949 PDF file is too large?
When you're at the step to upload your 8949 into TurboTax, there is a file size limitation. If your file is too large, you'll see an error message like this:
If you receive an error that your file is too large, you'll need to mail your 8949.
Step 1: On the page where you received the error, you'll hit "Skip".
Step 2: Ensure that you select the box that says "I'm going to mail a paper copy of my 1099-B to the IRS".
Step 3: For instructions on how to mail your 8949, you'll select "How do I mail my statement?".
Step 4: Instructions on how to mail your 8949 will appear. You'll want to follow the steps provided in TurboTax on how to mail your 8949.
After you've completed the mailing process, you're all set!
Still have questions? You can interact with our Chatbot by selecting the Chat Widget located at the bottom right side of your screen, or fill out this form HERE to submit a support inquiry request. Our team is happy to help!
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