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Get your taxes done using TurboTax
For TurboTax Desktop you have a couple options.
Enter the sales in the Investment Income section "Stock, Mutual Funds, Bonds"
You have the option of entering each sale or as a summary. (Answer "Yes" you have a 1099-B, Select "I'll enter a summary for each sales category"
Be sure to separate Short (ONE YEAR OR LESS) and Long Term (MORE THAN ONE YEAR) gains.
If you are e-filing, paper-mail Form 8453 with the statement or 1099-B you have showing the transactions, within 3 days of an acknowledgement of the acceptance of your e-filed Federal Return. Check the box on Form 8453 for Form 8949 (the last option)
Mail Form 8453 to:
Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254
(If you are mailing in a paper 1040, include the statement only with the paper return)
Be sure to separate any earned income (Mining, Air Drops) from trades. Enter any "Earned Income" on your Schedule C.
TurboTax (Online) does have a separate section for reporting Virtual Currency trades, but that is just a convenience for the customer. It all goes to Capital Gains/Loss.
DESKTOP:
Personal
Personal Income
I'll choose what I work on
Scroll down to "Investment Income"
"Stocks, Mutual Funds, Bonds, Other" START
Did you get 1099-B?" NO
Select "I'll enter a summary for each sales category"
If you have both Short Term and Long Term, you will need to enter each on a separate screen.
I also found this suggestion which might work for you:
"If all you have is .CSV you can try this:
Start a TurboTax online account, import your cryptocurrency data and then save the .tax file to import into your desktop version. To do this, while you are in your tax return, click Tax Tools on the left menu. Click on Tools. In the pop-up menu, click on Save your 2021 return to your computer. Then import into your desktop version.
If have a .TXF file do this:
Import it into TT via the File/Import\Accounting File. Most coin tracking apps like CoinTracker will generate this file using your exchanges .CSV file like Coinbase Pro. I use Coinbase pro and Cointracker supports reporting up to 3000 Coinbase transactions for free to a .txf file. This is what I used for filing on the desktop version. You can adjust any of the transactions once there imported if some of the fees are not computed correctly. I also noticed you have to go through manually and add whether your short/long transaction was reported or not."
"You actually do not have to mark each transaction as not reported to the IRS. To avoid this, open form 8949 and in part 1, check box C. That will take care of all the transactions."
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