In this article, we'll include instructions on how to upload your Form 8949 to TurboTax Online.
To file your taxes on TurboTax, download the TurboTax Online version of your 8949 from TaxBit (a .csv file). Instructions for doing so can be found in THIS article. Make sure you've added ALL your transaction data to your account and resolved as many flags before downloading that 8949. Feel free to check out THIS article explaining what flags to watch out for and how to resolve them. Otherwise, the form may be incomplete.
You aren't able to use TurboTax Online to add more than 2500 disposal entries. If your .csv file has more than 2501 lines in it, you'll need to use our workaround to add those using TurboTax. Instructions for that can be found as an attached .pdf at the end of this article.
Once you've got that form downloaded, you're ready to navigate TurboTax UI to include that form with your tax filing. After your TurboTax initial set up, you'll see the following page. Navigate to your "Federal" tax filing and make sure you're under the "Wages & Income" tab.
Scroll down that "Wages & Income" page to the "Investment Income" option. Select the "Show More" arrow, and click "Start" next to the cryptocurrency option.
Select “yes” on the first cryptocurrency question.
In order to upload an 8949 automatically, select one of the service providers off the list. We find that selecting "Bitcoin.Tax" usually works pretty well. That list is subject to change, and TaxBit will be included in that list in the future. After making a provider selection, choose "Continue" in the bottom right.
On the next page, select "Browse" and upload the .csv file you downloaded from TaxBit.
All of the transactions in the 8949 file are taxable, so choose "Select All". A checkmark will appear next to each of those transactions. Scroll down to the bottom of the page, and select "Continue".
You'll then see a summary of all those transactions that were imported. If everything looks correct, scroll to the bottom of that page and select "Continue" again.
The last page is a summary of your crypto disposals. If everything looks good, select "Done" to finish the cryptocurrency portion of your taxes.
Still have questions? Send us an email at email@example.com, or chat with us using our live chat feature, and we'd be happy to help!