Get your taxes done using TurboTax

TurboTax Desktop Premier for 2022 allowed you to import a TXF file.  So, if you were provided a CSV file, it had to be converted to TXF format.  

Then you would import the TXF file into TurboTax Premium (or Home & Business) Desktop.

• Import TXF file into Turbotax Desktop:    File / Import / From Accounting Software / Other Financial Software (TXF) file /  Continue / Choose a File to Import / Import now.
• An IRS form 1099-B with all Cryptocurrency transactions is now created.  Each transaction can be edited as necessary.

The second option is that you may elect to report summary information.  

Your brokerage statements should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered. 

You will enter the summary info instead of each individual transaction.  Follow these steps.       

1. Select Federal Taxes across the top of the screen.
2. Select Wages & Income across the top of the screen.
3. Select I'll choose what I work on.
4. Scroll down to Investment Income.
5. Select Start/Update to the right of Stocks, Mutual Funds, Bonds, Other.
6. At the screen Here's all the investment accounts we have so far, select Add more sales.
7. At the screen Did you get a 1099-B or a brokerage statement for these sales?, select Yes.
8. At the screen Let us enter your investment sale info, select I'll type it in myself.  Continue.
9. At the screen Which bank or brokerage sent you this form, select My bank/brokerage isn't here.
10. Enter name of the broker/cryptocurrency.  Continue.
11. At the screen Tell us about your 1099-B, select I'll enter a summary for each sales category.
12. Enter proceeds, cost and sales category from first IRS form 1099-B.  Continue.
13. At the screen Do you have another sale to enter, select Yes to enter additional IRS form 1099-B.
14. Select No if there are no additional entries.
15. You may be required to mail in copies of the IRS form 1099-B.