Question

Gemini API loads but is completely inaccurate

Forum|Forum|2 years ago
April 8, 2024
1 reply
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Hi folks,

In order to calculate my crypto gains/losses incurred on the Gemini exchange, I connected to the Gemini API as instructed. The connection "worked" but TurboTax is spitting out completely inaccurate gains/losses for this year. I've tried it several times and it won't work. Gemini produces a Gains/Losses statement for you, but it only comes in .xlsx format, not the .csv format required to upload into TurboTax. This Gains/Losses statement is accurate. Is there anyway I can load it into TurboTax? This is so frustrating.

J

JamesG1

TurboTax Online Premium will accept a CSV file. When I enter 'xlsx format to csv format' in a browser, I receive options such as using the Save as command in Excel. Perhaps an option can be found there.

Are you able to generate a PDF file from the Gemini Gains/Losses statement in XLSX format? Are you able to display the Gemini Gains/Losses statement in summary form compatible with the IRS form 8949?

Perhaps your transactions could be grouped by sales category, for example Box C Short-Term not reported to you on Form 1099-B or Box F Long-Term not reported to you on Form 1099-B.

TurboTax Online Premium can then be used up report Sales section totals and the PDF file may be uploaded into TurboTax or a paper copy mailed to the IRS. Follow these steps:

Down the left side of the screen, click on Federal.
Down the left side of the screen, click on Wages & Income.
Scroll down to Investments and Savings and click the down arrow to the right.
Click Start / Revisit to the right of Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
Click Add investments.
At the screen Let's import your tax info, click Enter a different way.
Click on Stocks, Bonds, Mutual Funds. Click Continue.
At the screen Which bank or brokerage is on your 1099-B, enter the information. Click Continue.
Do these sales include any employee stock, click No.
Do you have more than three sales on your 1099-B, click Yes.
Do these sales include any other types of investments, click No.
Did you buy every investment listed on your 1099-B, click Yes. Click Continue.
At the screen Now, choose how to enter your sales, select Sales section totals. Click Continue.
At the screen Look for your sales on your 1099-B, click Continue.
At the screen Now enter one sales total on this 1099-B, enter information. Click Continue.
Repeat as necessary by clicking Add another sales total. Click Continue.
At the screen Now we'll help you upload your 1099-B since the IRS requires a copy, select Browse.
Upload the 1099-B in PDF format.
Upload successful, click Continue.