I used the import option from Turbotax directly with Cointracker and noticed on the actual return my Form 8949 is just a condensed form and has one line item for “CoinTracker - short-term” and “Date Acquired” as “various.” Doesn’t the IRS want to see the detail with exact amount of crypto and dates acquired/sold broken out or is just listing a summary and “cointracker” acceptable? It doesn’t even indicated it is bitcoin. I would think they would want to know the actual asset rather than the web site that did the calculation.
Because TurboTax has a limit on the number of transactions they support via CSV upload, we’re forced to aggregate the transactions like this if you want to file with TurboTax (otherwise TurboTax will reject the CSV file). If you still want to file with TurboTax, you can go ahead like this, but please keep a copy of your fill 8949 for your records in case you ever get any questions about your trading activity.
Alternatively, if you want to file with the full version (see full 8949 PDF in the tax center), then you won’t be able to use TurboTax (Intuit’s restriction).
Great, thank you for the explanation. I only had about ten transactions so I’m going to manually dit the Turbotax file to make sure I’m poroviding the IRS as much info as possible.