RobertB4444
Expert Alumni

Get your taxes done using TurboTax

You have to enter every transaction you have.  Since your broker doesn't export to TurboTax you'll go through one by one and do the following-

 

First, in the wages and income section scroll down to Investment Income

Click on start next to Stocks, Mutual Funds, Bonds, Other

Click yes on did you sell any investments

Click yes on did you get a 1099-B

Select "I'll Type It In Myself"

Select "My brokerage isn't here" from the drop down menu and type the name of your brokerage in the box that appears

Select "I'll enter one sale at a time"

Now you need six pieces of information about each sale - 

         Description is the name of what you sold

         Date sold is the date that you sold it

         Date acquired is the date that you bought the crypto

         Sale proceeds is how much you got in the sale - doesn't matter whether the end result is negative or not, just type in how much you got as a positive number

         Cost or other basis is how much you paid for the crypto when you bought it - also always a positive number

         Lastly, the sale category is on your 1099-B.  Covered refers to whether the IRS was told how much you paid for the crypto when you bought it.  Non-covered                         means the IRS doesn't know how much you paid.

The system will figure out whether you made or lost money overall.

 

@kegei 

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