ThomasM125
Expert Alumni

Get your taxes done using TurboTax

Your approach is sound, but there are some things you need to keep in mind. In order to download your broker statement to TurboTax, it would need to be in the form of a 1099-B. After you download the information, you need to review the entries, with particular attention to the cost basis of your transactions, as they are not accurately reported sometimes.

 

Sometimes Bitcoin sales are reported on a form 1099-K. If this happens, only the sales proceeds would be reported, so you need to enter those transactions manually and determine the cost basis to be reported.

 

 

 

 

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