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jpsnow72
New Member

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

How to I tell turbotax that there were multiple purchases/sells over a date range without adding each buy/sell individually?

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Accepted Solutions
DS30
New Member

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

It depends -

You can enter "various" as the date of purchase but you will need to report the date of sales. You will need to make sure that you are letting the TurboTax system know whether these are long-term or short-term capital gains and losses.

To enter the sale of a capital asset in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "investment sales" in the search bar then select "jump to investment sales". TurboTax will guide you in entering this information.

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6 Replies
DS30
New Member

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

It depends -

You can enter "various" as the date of purchase but you will need to report the date of sales. You will need to make sure that you are letting the TurboTax system know whether these are long-term or short-term capital gains and losses.

To enter the sale of a capital asset in TurboTax, log into your tax return (for TurboTax Online sign-in, click Here and click on "Take me to my return") type "investment sales" in the search bar then select "jump to investment sales". TurboTax will guide you in entering this information.

maglib
Level 11

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

Non-miners to reports gains/losses to the extent allowed go to type "Investment Income" without the quotes in the search box, select "Investment Income, gains & Losses" and choose to JUMP TO,  It will ask if you sold any invesments, say yes, select NO to the 1099-B question, Choose "Personal Items" for crypto used for personal purposes, or Everything Else for crypto held for investment purposes. Record each transaction with the date you moved the coins, for how much, when you acquired them, and for what.  You can't take a loss on personal items (if you used cryptoccy to purchase goods and services) which you report those under personal items. Cryptocurrency for investment purposes is recorded as Everything Else. Make sure only personal use cryptocurrency is recorded in the personal Items section.
You can report transactions in summary for the year as investments LT vs ST and Personal LT vs. ST for 4 categories of reporting. You can use various for the date of purchase and 12/31/17 as date of sale.
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em2345
Returning Member

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

The date of purchase box will not let me enter "various".  It must be in the format mm/dd/yyyy.  What do I enter now?  It's not a long-term, which is the default if I don't put in a purchase date.  

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

Then enter a date less than a year old to make it short term.

em2345
Returning Member

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

Thank you.  So the exact date doesn't really matter?

I have calculated all of my gains from cryptocurrency investments outside of TurboTax. I am trying to add them to "Investment Sales" but I bought them multiple dates.

when you "type it in yourself" the keyword "various" is allowed in purchase date.
How are you entering the transaction that it disallows "various"?

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