ThomasM125
Expert Alumni

Get your taxes done using TurboTax

You may be referring to the online TurboTax program where you will see a section for Cryptocurrency as follows:

 

However, you will not see that option on the desktop (download) TurboTax program. On that program, you will go to the Investment Income section, and then Stocks, Mutual Funds, Bonds, Other then indicate if you have a 1099-B form or not. You will see an option to enter a description, date sold, date acquired, sale proceeds, cost basis and holding period for your cryptocurrency sale.

 

If you are reporting an airdrop, you enter that in the Less Common Income section, then Miscellaneous Income, 1099-A, 1099-C section. Give the income a description and enter the amount of your income from the airdrop. Cryptocurrency from an airdrop is not reportable until you can use the money, however. Here is a link with more details:

 

Cryptocurrency Airdrop

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