Crypto

[Nick6adams]

Does turbotax have the capability to track staking/defi taxes for crypto? Or do I need to use a third party company such as koinly or zenledger to calculate taxes from staking/defi crypto? 

[Rick19744]

Use 3rd party.

[Nick6adams]

Is it possible that someone can give me a list of 3rd party crypto tax companies? Right now I have Koinly and Zenledger. Just trying to find the cheapest option.

Thanks.

[Cynthiad66]

TurboTax supports CSV files uploaded from these cryptocurrency services.

• Bitcoin.Tax

• BitTaxer

• Coinbase

• CoinTracker

• CryptoTrader.Tax

• Robinhood

• TokenTax

• ZenLedger

[gtrplayr1976]

I have TurboTax Premier desktop ,and there is no place to upload csv files. It's the reason I bought the Premier Edition. It only asked if I had crypto along the way ,and nothing else after that. I have already asked for a refund ,so I may try Premier Live IF it will allow these files to be uploaded from my laptop.

[ErnieS0]

TurboTax CD/Download can upload TXF files @gtrplayr1976. 

1. Tap File in the top left
2. Import > From Accounting Software
3. Select Other Financial Software (TXF file)

There are several websites that convert CSV to TXF.

If you switch to Online from CD/Download, you will have to start from the beginning. TurboTax will not upload a 2020 tax file into online. It will allow you to transfer 2020 CD/Download into 2021 Online.

See How do I transfer last year's return into TurboTax Online?

For info on importing a CSV file online see How do I upload a CSV file of my crypto transactions?

[gtrplayr1976]

Thank you ErnieSo.  I may just try the live version if our internet will support it. I have already asked for a refund of the desktop version ,so I may wait to see if that goes through before I buy the live version.

[Nick6adams]

Yea I have done the same. But they don’t even know what we are talking about yet. And then when you use a 3rd party to do staking taxes for like ex. TIME they leave it up to you to mark everything correctly if it’s from the staking pool/or not. It’s a a cluster****. TurboTax experts do not know how to answer this question efficiently.