MarilynG
Expert Alumni

Get your taxes done using TurboTax

It's good that you have downloaded your Gemini transactions to your computer.   You can  go through your transactions to see which (if any) need to be reported on your tax return.

 

Click this link for more info on How is Crypto Taxed?

 

If you find that some transactions need to be reported either as 'Earned Income' or as 'Property Sales' you can enter them appropriately in TurboTax. 

 

You can delete transactions that don't need to be reported from your transaction file you saved to your computer.  Try to save it as a PDF file if you are able to. 

 

If you have transactions to report as Property Sales (for Capital Gains) you can summarize those transactions (choose Sales Section Totals) and enter only a couple lines into TurboTax.  (Say NO, you don't have a 1099-B, but after that treat your transaction files 'as if' it were a 1099-B). 

 

TurboTax will ask later how you would like to report your transactions to the IRS, and you can indicate that you will attach a PDF to your efiled return, if you were able to save your transaction file as a PDF. 

 

If you can't save your transaction file as a PDF, you can still Efile your return (with the Sales Section Totals) and mail a copy of your saved transaction file to the IRS.  Your 'Filing Instructions' tell you where to mail it. 

 

 

 

@Kayc2

 

 

 

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