PLEASE NOTE: TurboTax online does not support the TXF import
The TXF download seems to work only in Chrome, not in Safari
If you want to upload the generated .txf files into the TurboTax disk version follow these instructions:
For capital gains (other than ESPP sales, which are not supported for TXF import), create a separate .txf file in your financial software so you can import it to the Schedule D. Then follow these instructions to import:
- Open your return in TurboTax Premier or Home & Business.
- From the TurboTax File menu, select Import > From Accounting Software (Windows) or Import > From TXF Files (Mac).
- Follow the on-screen instructions to finish importing your .txf file.
HOWEVER there are two possible issues for CoinTracking Users:
1. TurboTax desktop has a hard limit of 3000 TOTAL trades:
"We notice you have more than 3,000 financial transactions to import. TurboTax wasn't designed to handle this many transactions. We apologize! Please contact us to request a refund (go to www.turbotax.com and select Support)."
2. A Proceeds/Cost Basis cannot exceed $10M.
Possible solution: Split the $10M+ Proceeds/Cost Basis totals from Form 8949 (exported from Cointracking.info) as two separate line items, so each is below $10M. Then physically mail all tax documents including the full Form 8949 to the IRS.
Please read this post from one of our users for more information: