Turbo Tax Errors
closed
S
Sparkling Muskox
After uploading the CSV to Turbo Tax it requires you to manually go through every single transaction and update "How I received this investment".
For people with lots of transactions this will take a massive amount of time to do.
P
Petur
Turbotax seems to have fixed the server issues now so all files should be importing correctly.
In regards to the review section at the end:
This section was only added in 2022 and asks users to review each disposal and add information.
This review is entirely optional! You can simply skip it by clicking on the Continue button at the bottom of the screen.
We have spoken to Turbotax on a few occasions and there is no way to include this information in the CSV report. This review will also pop-up for anyone that is importing their transactions through a CSV so it is affecting all crypto calculators, not just Koinly.
If Turbotax is not letting you skip the review then you might be missing some other information such as your personal details.
P
Petur
marked this post as
closed
P
Petur
Turbotax seems to have fixed the server issues now so all files should be importing correctly.
In regards to the review section at the end:
This section was only added in 2022 and asks users to review each disposal and add information.
This review is entirely optional! You can simply skip it by clicking on the Continue button at the bottom of the screen.
We have spoken to Turbotax on a few occasions and there is no way to include this information in the CSV report. This review will also pop-up for anyone that is importing their transactions through a CSV so it is affecting all crypto calculators, not just Koinly.
If Turbotax is not letting you skip the review then you might be missing some other information such as your personal details.
H
Hollywood cerise Hoverfly
Petur: I still have 542 records to review. TurboTax did not fix the problem for me. Each one I clicked on wants to know how I got the crypto… so same problem. I can continue, but that worries me as well. I don’t want to forget to include something and be audited.
P
Petur
Hi everyone,
This has become a common issue for many Turbotax users but it is not on our end so there is unfortunately not much we can do at this time.
We have just spoken to Turbotax's Resolution team about this and confirmed that this is a server error on Turbotax's side that is affecting all cryptocurrency filers and is not exclusive to Koinly users.
According to their team, the issue began on February 12th and has an estimated resolution date of March 2nd.
What the issue is:
There are two common issues that users are experiencing.
- Not being able to import a CSV file
- Needing to add "missing" information to each crypto disposal
Both of these issues seem to be due to the same server errors that Turbotax hopes to have resolved in early March.
What you can do:
While we wait for this to be fixed, there is not much that can be done.
Some of our users have been able to complete the crypto filing section by trying again on a different day. We don't know why it sometimes seems to work but sometimes results in an error but this is something that could potentially work.
I will update this thread when we get more info from Turbotax.
S
Sienna Octopus
I've run into the same problem. Sent an email to support.
H
Hollywood cerise Hoverfly
I saw in another thread that this is an issue with the Turbo Tax servers and the estimated time for a fix is early March. I'm not manually updating 500+ entries. That's completely unacceptable.
O
Orchid Wren
Where are you seeing this issue? Is it an error that comes up at the review?
Also, did you verify that everything was imported labeled correctly before generating the report?
I ask because I did not come across this issue and am wondering where to look to see if I am affected in order to be able honestly up-vote this with confirmation or not.
C
Closed Duck
Orchid Wren: I have this issue too. What is the work around?
O
Orchid Wren
Closed Duck: I don’t know, I didn’t see this issue come up on mine. Everything seemed to work just fine for me. But I wanted to know so I can double check.
C
Closed Duck
Orchid Wren: i can send a screen shot --It doesnt throw an error but wants to know how you purchased and you have to review each item ; i have 75.
C
Closed Duck
Also, talk to Petur. He works w/ me a lot.
S
Sparkling Muskox
Orchid Wren: After uploading the CSV and selecting "Wrap up Income" TurboTax does a final check of the information you entered. At the end of this check it shows that there are "X details to review" where each "detail" is a transaction from the Koinly CSV. It wants you to go through each transaction manually and mark "How I received this investment". I will provide screenshots to show what I'm talking about.
O
Orchid Wren
Closed Duck: interesting…
yeah, turbotax didn’t ask me that at all
Did you tag everything appropriately? All transactions linked, “sent to pool”, etc?
Note: I am just another user, not a Koinly employee
O
Orchid Wren
Sparkling Muskox: nope, didn’t get anything of the sort…
The only thing I can think of is whether everything is tagged, linked, etc correctly.
O
Orchid Wren
Sparkling Muskox: well, then it may be an error effecting some but not all users.
TurboTax didn’t complain and the IRS accepted… oh well, I paid for audit support if things get messed up.
S
Sparkling Muskox
Orchid Wren: Hmm that is interesting. Well as far as I know I tagged everything correctly in Koinly but I somewhat doubt that's the issue. If you open the CSV that Koinly generates there isn't any information in there about how the investment was purchased. Here's a screenshot of all the columns.
O
Orchid Wren
Sparkling Muskox: yeah, mine have the same headers. And it is all transactions? Not just those without a linkable purchase or income history? I really don’t know.
Very strange… and a bit worrisome.
Such an issue could be on either Koinly or TurboTax side.
S
Sparkling Muskox
Orchid Wren: Yea for me it's every single transaction that shows up as a "detail to review" in TurboTax so I don't think it's detecting any sort of purchase history.
I agree though, it is definitely worrisome.