Yes, there is an option. You could do a summary in lieu of individual transactions. You can enter a summary for each category in TurboTax, E-file your return and three days after the IRS has accepted your return, mail in the detail of your 1099 forms, along with form 8453. This way, you don't have to manually enter all the transactions.
Cryptocurrency received as payment for goods and services is taxed as earned income:
- If you earned money by providing a service or selling something, you’d have to report it as earned income (either wages or self-employment income) as if you’d been paid in cash.
- See How do I report income from self-employment?
Cryptocurrency sold, exchanged, spent or converted, is treated as sale of 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. See How do I report Bitcoin or other cryptocurrency as a capital gain?
- 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.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
