TurboTax Online only supports importing 4000 transactions. What should I do?
TurboTax Online offers a great import feature, but unfortunately they have limited the number of importable crypto transactions to 4000. This is a limitation by Turbotax Online only, and does not affect any of Bitcoin.tax main features. TurboTax Online has suggested aggregating the data as a workaround to this limit, resulting in a reduced number of transaction lines. You can follow the steps below to utilize our data aggregation feature below.
Note: *Always remember to consult with your tax professional about utilizing aggregated data.
1- Go to Reports and Export tab (1)
2- Click the drop down arrow next to Options (2)
3- Choose either Group by date (3), Group by asset (4), or Group by short/long term (5)
4- Click on the drop down arrow next to Download (6)
5- Select TurboTax Online (7)
A file will be downloaded, that you can then import to TurboTax Online by following the steps HERE
If you prefer not to use the aggregated method that TurboTax Online recommends, you can look into alternatives methods:
- Use another online tax service such as TaxACT or H&R Block than can handle larger file limits.
- Download the "Form 8949 Statement". You can print this yourself and then send the statement into the IRS. Please follow the IRS Form 8949 Instructions for more information or speak with your tax professional.
Please keep in mind Bitcoin.tax still calculates capital gains and losses on thousands of trades, and provides you with a 8949 statement that you can use to file your taxes.
Always talk to your tax professional to make sure you are reporting information correctly.
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