Investors & landlords

Yes, you can report the transactions individually, or you can download them.

Reporting Cryptocurrency transactions

A taxable transaction will occur when you sell, trade, or otherwise exchange a  cryptocurrency.

You are required to provide a summary of each transaction.  This will include:

• Description

• Date of acquisition

• Cost or value at acquisition (may be zero)

• Date of sale or exchange

• Value or proceeds upon exchange

• All associated costs

This will all be entered in the Stocks, Cryptocurrency, Mutual Funds, Bonds, Other section

You may wish to use a crypto trading/tracking software to maintain the details for tax reporting.

Although brokers now maintain records of the Cost Basis of investments and stocks.  It is your individual responsibility to maintain those records.

Online version

Cryptocurrency download CSV file

The easiest and fastest way to get your crypto transactions into TurboTax is by using the import method. If you’d rather download a CSV file from your crypto service and upload it to TurboTax, here’s how.

1. Sign in to TurboTax, and open or continue your return

2. In the Wages and Income section under Investments and Savings (or Investment Income), select Start or Revisit next to Crypto (1099-B)

3. On the next screen, you may see Did you sell any of these investments in 2021? or Time to kick off your investments!, select either Yes or Okay!

4. On the We can make this faster screen, select Enter a different way, and then select Cryptocurrency on the following screen

   1. If, instead, you’re asked to select an investment type, select Cryptocurrency

   2. You’ll then see the Get ready to be impressed screen. Select Continue, then select Try another way

5. Select Upload on the Select your crypto experience screen 

6. On the What’s the name of the crypto service you used screen, select your crypto service from the dropdown menu 

7. After downloading your CSV file from your crypto service, upload it on the Go ahead and upload your crypto CSV file screen 

   1. Note: Make sure your file extension is .csv

8. Review your uploaded crypto information

TurboTax supports CSV files uploaded from these cryptocurrency services.

• Bitcoin.Tax

• BitTaxer

• Coinbase

• CoinTracker

• CryptoTrader.Tax

• Robinhood

• TokenTax

• ZenLedger