How to Import Polymarket Trades Into TurboTax (Step-by-Step)
The simplest way to get your Polymarket trades into TurboTax — no manual data entry required.
1. Can You Import Polymarket Trades Into TurboTax?
Yes — but not directly. TurboTax does not have a built-in integration with Polymarket, and Polymarket does not provide any tax documents or export files. However, you can use PolyTaxes to generate a TurboTax-compatible CSV file from your on-chain Polymarket trade data, then import it directly into TurboTax.
The entire process takes about 5 minutes: paste your wallet address into PolyTaxes, let it scan your transactions, download the TurboTax CSV, and upload it into TurboTax. All your Polymarket trades — buys, sells, merges, redemptions, and more — are imported automatically with the correct Form 8949 fields populated.
2. Why TurboTax Can't Auto-Import Polymarket Data
TurboTax's auto-import feature works with traditional brokerages (Fidelity, Schwab, etc.) and some crypto exchanges (Coinbase, Robinhood) because those platforms issue 1099-B forms and participate in TurboTax's import program. Polymarket does neither:
- No 1099-B forms: Polymarket does not issue any tax documents to users
- No TurboTax integration: Polymarket is not a participating broker in TurboTax's import network
- Decentralized platform: Trades happen on the Polygon blockchain, not through a centralized exchange with reporting obligations
- Complex transaction types: Polymarket has unique mechanics (splits, merges, neg-risk conversions) that standard import formats don't support
This is why a purpose-built tool like PolyTaxes is necessary. PolyTaxes reads directly from the Polygon blockchain, decodes all Polymarket-specific transaction types, calculates FIFO cost basis, and outputs a CSV file in the exact format TurboTax expects.
3. Step 1: Generate Your TurboTax CSV with PolyTaxes
Follow these steps to generate your TurboTax-compatible CSV file:
Go to polytaxes.com/scan
Visit polytaxes.com/scan in your browser. No account or login required to start.
Paste your wallet address
Enter your Polygon wallet address (0x...), Polymarket profile URL, or @username. If you have multiple wallets, add them all — PolyTaxes merges and deduplicates transactions automatically.
Select your tax year and scan
Choose the tax year you're filing for and click Scan. PolyTaxes will read every Polymarket transaction from the Polygon blockchain. The free preview shows your gains/losses summary, transaction counts, and tax estimate.
Purchase the full report ($29)
After reviewing the preview, purchase the full report for $29 per tax year. This unlocks all downloads including the TurboTax CSV, Form 8949, Schedule D summary, detailed transaction history, and PDF reports.
Download the TurboTax CSV
From your report page, click the "TurboTax CSV" download button. Save the file to your computer. This file contains every Polymarket disposition formatted for TurboTax import.
4. Step 2: Import the CSV Into TurboTax
Once you have the PolyTaxes TurboTax CSV file, import it into TurboTax:
Open TurboTax and navigate to investment income
In TurboTax, go to Federal > Income & Expenses > Investment Income > Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.
Choose "Upload a CSV file"
When asked how you want to enter your investment info, select the option to upload a CSV file (the exact wording varies by TurboTax version).
Select the PolyTaxes CSV file
Browse to the TurboTax CSV file you downloaded from PolyTaxes and upload it. TurboTax will parse the file and populate your Form 8949 with all your Polymarket trades.
Review and continue
TurboTax will show a summary of the imported transactions. Review the totals to ensure they match your PolyTaxes report, then continue with the rest of your tax return.
That's it — your Polymarket trades are now in TurboTax. No manual data entry, no calculating cost basis by hand, no figuring out which Form 8949 box to use.
5. What the TurboTax Import Includes
The PolyTaxes TurboTax CSV contains all the data TurboTax needs to populate Form 8949 correctly:
| Field | Description |
|---|---|
| Description | Actual market name and outcome (e.g., "Presidential Election 2024 — YES") |
| Date Acquired | The date you purchased or acquired the tokens |
| Date Sold | The date you sold, merged, or redeemed the tokens |
| Proceeds | How much you received from the sale/redemption (in USD) |
| Cost Basis | Your FIFO cost basis for the disposed tokens (in USD) |
| Gain/Loss | Proceeds minus cost basis, adjusted for wash sales |
Each row in the CSV represents one disposition event (a sell, merge, or redemption). PolyTaxes uses actual market names and outcome names — not cryptic token IDs — so you can easily identify each trade in TurboTax.
6. TurboTax Desktop vs. TurboTax Online
Both TurboTax Desktop and TurboTax Online support CSV import for investment transactions, but there are some differences:
TurboTax Online
- + No software installation needed
- + CSV upload available in Premier and higher tiers
- + Works on any device with a browser
- - May have limits on number of transactions per upload
- - Requires TurboTax Premier ($89+) for investment income
TurboTax Desktop
- + Generally handles large CSV files better
- + No transaction count limits
- + One-time purchase, no subscription
- - Requires Windows or Mac installation
- - Premier edition needed for investment income
For most Polymarket traders, TurboTax Online Premier works fine. If you have a very large number of trades (thousands of transactions), TurboTax Desktop may handle the import more smoothly. The PolyTaxes CSV is compatible with both versions.
7. Reviewing Your Imported Trades in TurboTax
After importing, TurboTax will display a summary of your imported transactions. Here's what to verify:
- Transaction count: The number of imported transactions should match the disposition count in your PolyTaxes report
- Total proceeds: Should match the total proceeds shown in your PolyTaxes Schedule D summary
- Total cost basis: Should match the total cost basis from PolyTaxes
- Net gain/loss: The bottom line should match your PolyTaxes net gain/loss
- Short-term vs. long-term split: Verify that TurboTax categorized trades correctly (Box C vs. Box F)
If everything matches, continue with your return. TurboTax will automatically calculate the tax owed on your Polymarket gains and apply it to your Form 1040.
8. Common Issues and Troubleshooting
"File format not recognized"
Make sure you're uploading the TurboTax CSVfile (not the Form 8949 CSV or the detailed transaction CSV). The TurboTax CSV is specifically formatted for TurboTax's import feature. If you downloaded multiple files from PolyTaxes, look for the one labeled "TurboTax CSV."
"Too many transactions"
TurboTax Online has a limit on the number of transactions that can be imported in one upload (typically around 2,500). If you have more transactions, consider using TurboTax Desktop, which handles larger files. Alternatively, you can use the Form 8949 CSV from PolyTaxes and file it as a separate attachment with the IRS alongside a summary Form 8949.
Totals don't match
Small rounding differences (a few cents) between TurboTax's display and the PolyTaxes summary are normal because the IRS requires rounding to whole dollars. If you see a larger discrepancy, check that you're comparing the same tax year and that all wallets were included in the PolyTaxes scan.
Missing transactions
If some trades appear to be missing, verify that you scanned all your wallet addresses in PolyTaxes. Many traders use multiple wallets — if any wallet is missing, the report will be incomplete. Go back to polytaxes.com/scan and add all your wallet addresses.
I also have stock/crypto trades
The PolyTaxes CSV only covers Polymarket transactions. If you also have stock trades (reported on a 1099-B from your broker) or other crypto trades, import those separately in TurboTax. All Form 8949 rows from all sources are combined on your final tax return.
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