rjs
Level 15
Level 15

Get your taxes done using TurboTax

@TiredOfCRAP 

The desktop TurboTax software already handles cryptocurrency transactions. You don't need a separate section for it. It's treated exactly the same as stock. See the replies by TomK100 and JohnB5677.


The question is not why desktop doesn't have a special section for cryptocurrency. The question is why TurboTax Online does have a special section for it, since it's totally unnecessary. My guess is that it's there because Online users tend to have less knowledge of tax rules, so they may not realize that cryptocurrency should just be treated as stock.


On Form 1040 the question about whether you received, sold, exchanged, or otherwise disposed of any virtual currency is directly below your address at the top of the form. In TurboTax the question is at the end of the Income section, after you click "Done with Income."