The IRS treats cryptocurrency sales as sales of property, almost identical to the sale of stocks.
Here’s how to enter your crypto transactions in TurboTax Home & Business:
- Tab the Personal tab, then Personal Income
- Go to Stocks, Mutual Funds, Bonds, Other in Investment Income
- On “Did you sell any investments in 2022?” say YES
- On “Did you get a 1099-B or a brokerage statement for these sales?” answer YES or NO. If you received a Form 1099-B you can try importing your data. Otherwise, type it in yourself.
- You’ll come to the option to enter a summary of your sales or enter each individual transaction. If you enter a summary, you’ll have to send the IRS a brokerage statement or spreadsheet listing your transactions.
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