USA and new IRS guidelines for 2025: Support for the new 8949 forms (Boxes H, G, I, etc) when filing through Turbotax
I
Integrated Warbler
For 2025 US tax filing, form 8949 will have new crypto related boxes (G, H, I, etc.). Based on the text in the form, you will be required to file a separate 8949 for each box that applies to your situation. So, you if have some defi transactions and some cex transactions in 2025, you'll have to include at least 2 separate 8949 forms (most likely boxes H and I for 2025).
Can you confirm that koinly's TurboTax exports (or any tax software exports) for the 2025 tax year will make it possible for TurboTax to generate the multiple 8949 forms (each with the appropriate box checked and accompanying transactions documented)? If not, can this be a feature that's added?
Considering this is a new mandatory requirement by the IRS, Koinly's support for this should also be mandatory. Otherwise, Koinly users will be unable to properly file their tax returns and likely be flagged by the IRS. And since there isn't much info about this change in the Koinly docs, I imagine most Koinly users aren't aware of the change to the 8949 form
Jack
We are currently reviewing what changes (if any) are needed so our US users can file their taxes to the IRS in 2026 (for the 2025 tax year), considering the new 1099-DA form.
Turbotax doesn't seem to be ready for the changes as well, as the flow on their website changes and most of the providers they have listed on their website are not available.
We hope to be able to share some clarifications regarding this soon, but probably not before February.
V
Vivid Newt
Hi Koinly team,
Are there any updates on your timeline for supporting the new Form 8949 boxes (G/H/I, etc.) and ensuring the TurboTax export will generate the correct multiple 8949s as required? Even a rough ETA would help for planning.
Thanks,
S
Surviving Chipmunk
What is the timeline from Koinly for getting this done?
Jack
We are currently reviewing what changes (if any) are needed so our US users can file their taxes to the IRS in 2026 (for the 2025 tax year), considering the new 1099-DA form.
Turbotax doesn't seem to be ready for the changes as well, as the flow on their website changes and most of the providers they have listed on their website are not available.
We hope to be able to share some clarifications regarding this soon, but probably not before February.
Jack
Merged in a post:
TurboTax format incorrect
Z
Zucchini green Gayal
When generating the report called Turbotax Export (Gain/Loss) for 2025, the CSV it generates is not compatible with the Turbo Tax. TurboTax gives an error that says: "You uploaded a CSV file that contains gain/loss information. Go back and choose the respective Gain/Loss provider to upload this file." However, Koinly is not one of the listed providers.