PattiF
Expert Alumni

Get your taxes done using TurboTax

You will have to enter the results from the files into TurboTax manually. Venmo is not partnered with TurboTax to process CVS files. 

 

You should report your crypto earnings as income (just like cash). You'll also report any new cryptocurrency you received from a hard fork followed by an airdrop or other transfer as ordinary income.

If you hold crypto as a capital asset, you must treat it as property for tax purposes. If you sold any for profit, you must report earnings whether or not you received a tax form.

 

How you report your crypto activity depends on whether your cryptocurrency was considered earned income or treated as a property sale. Either way, you enter your crypto transactions in the same place in TurboTax. We'll ask you questions to figure out how to report your earnings or loss.

Read through the following for more info on common cryptocurrency scenarios:

Cryptocurrency received as payment for goods and services

Cryptocurrency sold, exchanged, spent or converted

Cryptocurrency received as income, and then held and sold for profit

Cryptocurrency received as a gift

New cryptocurrency received from an airdrop

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