In TurboTax Desktop, to enter cryptocurrency that must be reported as an investment:
Option 1: Step By Step
- From the Personal Tab>Personal Income
- Select I'll choose what I work on
- Scroll to Investment income and click Stocks, Mutual Funds, Bonds, Other click Start
- Click Add an account
- Did you get a 1099-B or a brokerage statement from these sales? Click No
- Choose the type of investment you sold Select Everything Else and click Continue
- Enter the details of your transactions
Option 2: From Forms Mode
- Click on the Forms toggle in the upper corner>
- Click Open Forms>in the search box, type cryptocurrency>
- Click on Cryptocurrency Worksheet> click Open Form
- Enter the details of your transactions
For a large number of transactions, enter it in summary form on Form 8949, one total for short-term and one total for long-term. Mail in the pages along with Form 8453 with the Form 8949 box checked.
For short-term transactions, Box C checked on Form 8949 for not being reported to you on Form 1099-B
For long-term transactions, Box F will be checked on Form 8949 for not being reported to you on Form 1099-B
Form 8453 can be found in Open Forms and printed to include with the hard copy details of your transactions.
[Edited 2/14/2020 | 5:46 PM PST]
