Get your taxes done using TurboTax

There are two ways that cryptocurrency can be taxed:

1. As an investment that will be handled like trading stocks.
2. As earnings, like wages being paid to you.

In either case you will have to convert the currency to US dollars.  That value will reflect the value on the day of the transaction.

If you were paid wages with cryptocurrency you would post it as follows:

1. Select BUSINESS
2. Business Income
3. General Income
4. Enter the description ( Type of cryptocurrency would work)
5. Enter the Amount (Value in US Dollars)