ErnieS0
Expert Alumni

Get your taxes done using TurboTax

@userIN There are several ways to bring crypto into TurboTax CD\Desktop:

 

The CD\Download version of TurboTax does not directly support cryptocurrency sales. There are several ways to enter cryptocurrency.

  1. Manual Entries. You can type in the transactions yourself the screens which are set up for stock transactions.
  2. Summaries. You can enter summaries and send copies of your exchange reports to the IRS.
  3. Import TXF file. You can import your transactions if they are in a TXF file format.
    1. Choose File in the upper-left corner of CD\Download
    2. Select Import > From Accounting Software (Windows) or Import > From TXF Files (Mac)
    3. Browse Files and Import Now

Our Community Tax Experts have come up with two workarounds.

 

Workaround 1 from awesome Tax Expert @KathrynG3:

  1. Click on Forms in the upper right to switch to Forms mode.
  2. Click Open Form in the left column.
  3. You’ll see a pop up titled Search or Browse the list of available forms.
  4. Type cryptocurrency.
  5. Select Cryptocurrency Wks and click Open Form.
  6. Enter your transactions in “Part II: Manually Entered Cryptocurrency Transaction Information.”

Workaround 2 from awesome Tax Expert @DawnC:

  1. Start a free tax return in TurboTax Premier Online. It’s free because you will not finish and pay online. You’ll just use this to prepare your crypto. 
  2. Enter (import) your crypto currency information in the Crypto section.
  3. Save the tax data file to your computer. See: How do I switch from TurboTax Online to the TurboTax software?
  4. Open the tax file in TurboTax CD\download and complete your return
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