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Get your taxes done using TurboTax
I am a little unclear. You say you bought the DVD, but your information says you are in TurboTax Online. For TurboTax Online read the following instructions below the investment sales (the FAQ). For the download/cd version, you will enter it as stock sales.
Cryptocurrency sold, exchanged, spent or converted, is treated as a sale of a property.Like property sales or the sale of stock, any gain or loss from the sale or trade of cryptocurrency is reported as a capital gain or loss. If you buy and sell it within 12 months, it’s treated as a short-term capital gain. If you hold it for over 12 months, it’s taxed at the lower, long-term, capital gain rates.
Follow these steps in the Premier Edition:
- Open (continue) your return in TurboTax.
- In the search box, search for investment sales and then select the "Jump to" link in the search results.
- Answer Yes to the question Did you sell any investments? (If you land on the Here's the investment sales we have so far screen, select Add More Sales.)
- Continue following the onscreen instructions and we'll calculate the gain or loss from the sale. Note: There isn't a specific section for digital currency, but if you answer the questions related to sales, we'll be able to do the proper calculation.
OR if the jump-to link is not working
- Select the Federal tab
- Select Wages and Income
- Select Investment Income
- You'll list each trade/sale in the Stocks, Mutual funds, Bonds, Other interview
- When asked Did you get a 1099-B or a brokerage statement for these sales? select No
- When asked to Choose the type of investment you sold select Everything else
- Translate proceeds of each transfer into US dollars at the time of the transfer
- Repeat for each
June 1, 2019
10:57 AM