You can now import your cryptocurrency transactions from more than 15 different cryptocurrency services directly into TurboTax. Watch this video to find out how.
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Video Transcript ~~~
Title : How do I import my cryptocurrency transactions into TurboTax? – TurboTax Support Video
You don’t have to report crypto transactions if you just bought and held on to it, or transferred it from one wallet to another. If you received crypto as payment for services, mined it, or earned it through exchange award programs, that’s reported as income.
The IRS treats crypto sales, exchanges, or conversions as property, and their earnings are considered capital gains.
The easiest way to add all of your transactions is to select each one of your exchanges in turn, from the Let’s import your tax info page. Then, Intelligent Tax Optimization will take you to your exchanges’ login pages. You will sign in to each of your exchange accounts in turn, and from each one we’ll automatically import thousands of transactions and any tax forms you might have, to calculate and consolidate your gains or losses and alert you if there may be potential other income transactions.
Your exchange might have sent you a list of your taxable sales, a 1099-B form, or a gain and loss report. Use that material to either ensure the information we imported matches your documents, or to enter your transactions manually.
For more answers to your questions, go to turbotax.com/support
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