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.
A
Apricot cream Nightingale
When is the updated 8949 forms going to be available for official filing? It's February and the generated file still says "preview." I always file early and this is impacting my usual filing timeline.
E
Easy Kiwi
Intuit just clarified that the Gain/Loss CSV is no longer supported. To enter transactions from arbitrary sources we must use instead the Universal Template CSV. Intuit articles:
- How do I upload a CSV file of my crypto transactions?
- How do I create a CSV file for an unsupported crypto source?
Will Koinly support exporting this template already filled for this season, as this the new way to feed transactions to TuboTax as of now?
J
Jambalaya Sparrow
Binance US exports a 1099-DA for users in pdf format. I have successfully imported the 1099-DA pdf from Binance US to turbotax. The problem is that is does not include stable coins. Koinly will need to format the TurboTax (Gain/Loss) .csv that use to work to a 1099-DA that includes stablecoin transactions. Koinly is lucky that Binance does not include this info and that I do not want to manually enter my stable coin trades. Otherwise, there is no need for Koinly for the future tax year.
Koinly may also have to import the 1099-DA provided by the exchange as Koinly will need to know how to classify the transactions based on reporting to the IRS. As noted by Integrated Warbler.
"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?"
Side note... this is why I even am willing to pay Koinly for this service. I hope for it to save me this time and aggravation of having to figure all this out. I want to be able to download whatever form/export, review it, and then upload it to turbotax. Otherwise, I am using AI next year to just take my transaction report with all transactions and having it format it to a 1099-DA.
X
Xeric grey Lark
Edit: After re-reading this again, it may only apply to TurboTax and not TurboTax Premier. Can anyone confirm they were able to import a gain/loss csv with Premier?
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It seems TurboTax 2025 no longer supports import of gain/loss CSV format and wants your complete transaction history to do its own gain/loss calcs and TX matching. Obviously this is not good since Koinly is already doing this for us and most of us using Koinly have complex situations TurboTax won’t handle.
See here where they indicate this is no longer supported: https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/upload-csv-file-crypto-transactions/L4EaIsWGG_US_en_US
Here are updated directives to use a transaction CSV and the format:
C
Cyan Reptile
When will the 2025 official Koinly generated 8949, schedule D be available. Mine continues to say "PREVIEW: IRS has not yet released an official form for this year. For filing, generate a new report later"
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.