How to Upload my 8949 to TurboTax Online - Over 4000 Transactions

TurboTax Online does not allow users to import CSV files for forms 8949 with more than 4000 rows of data. This is true even if you break up the files into smaller chunks. For this reason, we have developed a process you can follow to complete your 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?).

Once you've downloaded the forms, you are ready to import your file(s) into your TurboTax account. (How to Upload my 8949 to TurboTax Online). Once you've finished the process using those instructions, there are additional steps that have to be taken to ensure that the IRS has all of the required information.

Please Note: It's not possible for TaxBit to work around the limitation in TurboTax outside of this method. TurboTax does not allow users to import more than 4000 transactions, even though it's necessary for reporting.

TurboTax now has the correct information to accurately capture the impact of your cryptocurrency trades. We recommend downloading the PDF Form 8949 and mailing it to the IRS with Form 8453 and the cover letter provided below so that they have all the transaction details that make up the aggregated totals
that you reported. 

A form 8453 should be included with your form 8949 in order to identify the reason you are providing this form by mail. You can check the last box on the first page labeled “Form 8949, Sales and Other Dispositions of Capital Assets (or a statement with the same information), if you elect not to report your transactions electronically on Form 8949”

You can complete and print a form 8453 here: https://www.irs.gov/pub/irs-pdf/f8453.pdf

The mailing address of where to send your PDF Form 8949 varies by state, and can be found
here: https://www.irs.gov/filing/where-to-file-paper-tax-returns-with-or-without-a-payment

Select your state, and mail to the address that populates in the row Form “1040” and column “ARE NOT ENCLOSING PAYMENT.” You may use the cover letter template below when mailing in your PDF Form 8949 and Form 8453.

Your Name
Address
City, State, Zip

Department of the Treasury
Internal Revenue Service IRS
City, State, Zip (found from link above)

Dear Sir or Madame,

Enclosed is a copy of my completed form 8949, which I submitted electronically when filing my
2018 tax return. Additionally, a form 8453 is enclosed to indicate the reason for the provided
form 8949. The tax filing software that I used couldn’t support the number of transactions
contained on this form, so I aggregated the totals on this form when filing electronically. This
completed form 8949 shows each of the individual transactions that sum up to the aggregated
totals that I reported electronically. It is included here for your reference.

Sincerely,

(Signature)

Your Name

Still have questions? Send us an email at support@taxbit.com and we'd be happy to help!