Skip to main content

My 8949 is too large for TurboTax, what should I do?

Users with several thousand transactions may not be able to upload the standard 8949 to TurboTax. Here's what to do instead.

Written by Alex McCullough

If your tax documents are too large to upload to TurboTax, you can instead write in your total taxable gain/loss manually. For this method, you will need the general IRS 8949 forms that look like this:

Once you have the form, follow these steps:

  1. Even though you're using form 8949, search "1099-B" in the top right corner and click "Jump to 1099-b"

  2. Click "Add investments"

  3. Click "Enter a different way"

  4. Click "Type it in myself"

  5. Select "stocks, bonds, mutual funds" and click Continue

  6. Write in "Crypto" under Bank or brokerage

  7. Select "Sales section totals" and click Continue

  8. Select "short-term basis not reported to IRS (noncovered)"

  9. In the boxes below, write in your total proceeds and your total cost basis, as reported on the first page of form 8949 and click Continue

  10. Click "Add another sales total" and repeat step 7

  11. Select "Long-term basis not reported to IRS (noncovered)" and fill in the proceeds and cost basis from the second page of your form 8949 and click Continue

  12. Click Continue

  13. At this point you will be prompted to upload a form. You can try again to add your 8949, or an aggregated 8949.

Once you have completed these steps successfully, you should see a graphic with your total capital gain or loss for the year. Please double-check to make sure that the number matches the number you see in Awaken.

If the numbers match, you're good to go!

Technically, since TurboTax does not accept uploads of large files, you are supposed to physically mail your 8949 to the IRS. Whether you do that is up to you. Regardless, you should at least download the forms and keep them for your record in case the IRS asks you for them later.

Did this answer your question?