There is no CRYPTO line in my Turbotax Premier

[DuranA203]

When I go to Investment line in "Wages & Income" there is no Crypto line and when I select "Stocks, Mutual Funds, Bonds, Other" its asking me about 1099B form howerever all I have from Coinbase is PDF and CSV file. I have seen other people on here being able to upload the CSV file but I cant. 

[wilfsdad1965]

you can only import CSV to online  TT, not the desktop version.

desktop supports .txf so you may need to  to go tokentax not coinbase to  generate a .txf.

if that is too complicated the manual way is below.

you don't have to  report purchases only sales/exchanges/staking income.

TT desktop is not setup for crypto very well yet but it's reported under 'other income'.

Report your staking rewards as if you got a 1099-misc from your wallet/exchange.

report sales/exchanges on 8949 and 1040 Sched D.

you can toggle to the forms to manually enter it.

See this for further info: https://ttlc.intuit.com/community/taxes/discussion/does-the-turbo-tax-deluxe-desktop-2021-version-su...

[DawnC]

The desktop TurboTax and the Online TurboTax handle crypto (taxation) the EXACT same way.   The ONLY difference is your ability to import and attach transactions.   You can import 1099-Bs in either platform.   TurboTax Online allows you to upload CSV (comma separated values) files from your digital currency wallets, exchanges, and/or blockchains as well as import 1099-Bs.     If you see help articles that reference 'uploading csv files' - those help articles will only apply to the Online version of TurboTax (Premier or Above).     If you upload the transactions via a CSV file, you still have to go through and review them, so it doesn't necessarily lead to time savings or accuracy.   Most crypto is entered manually for this reason, or if there are a substantial amount of capital gain transactions, you can enter them in a summarized format.   

The importing features only work for capital gains transactions - when you sell, exchange or use crypto.  This income does not go to ''other income''.   Airdrops and staking awards can go to ''other income'', but NOT capital gains transactions.   Those must be entered in the Investment Sales section.    Ordinary income is taxed differently than capital gain income.    Your tax return may not be accurate if you enter capital gains as ordinary income.  

How is Crypto taxed?

Crypto Info Center - for all things crypto

[ctroll1]

I had a similar concern with not just Coinbase, but with several accounts on other exchanges. If you only have taxable crypto transactions on your Coinbase account then you should use the cointracker.io service for connecting your transaction history to turbotax. A cointracker.io account is free for coinbase users and it should link directly with your Turbotax Premier account. Half of this I learned from just online research, so I haven't been able to successfully complete all of my crypto tax stuff because I am using Turbotax Home and Business.

[jst1195]

^CSV^

[JamesG1]

IRS Form 1099-Proceeds statements may be entered at Federal / Wages & Income / Your Income / Investments and Savings / Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B).

At the screen Select your crypto experience, select Upload it from my computer for .csv file.

@DawnC above presents an excellent overview of cryptocurrency issues.

@jst1195

[surpaw]

I HAVE DESKTOP PREMIER 2022. MY INSTITUTION IS WEBULL. FOR CRYPTO TRANSACTIONS, PROCESSING IS DONE BY APEX CRYPTO ON THEIR BEHALF. RECEIVED CRYPTOCURRENCY ACCOUNT STATEMENT FROM THEM. ALSO RECEIVED A CSV FILE.  HOWEVER UNDERSTAND CSV FILE IMPORT IS NOT SUPPORTED. SO I AM TRYING TO ENTER MANUALLY.

HOWEVER I DO NOT SEE PARA 5 & 6 MENUS PER ARTICLE BELOW.

HOPE ONE OF THE MEMBERS HERE HAVE ALREADY HAVE A SOLUTION.

WILL APPRECIATE ANY HELP AND GUIDANCE.

THANKS

There are three ways to enter your crypto in TurboTax:

• Import your info directly from your crypto source (this is what we recommend, though it's not available for TurboTax CD/Download)
• Upload a CSV file of your crypto transactions
• Enter your transactions manually

How to import your crypto

How to upload a CSV

How to enter your crypto manually in TurboTax Online

How to enter your crypto manually in TurboTax CD/Download

1. Open TurboTax and open your return
2. Go to Federal Taxes, then Wages & Income
3. On the Your 2022 Income Summary screen, under Investment Income, select Start or Update next to Stocks, Mutual Funds, Bonds, Other
4. On the Did you sell any of these investments in 2022? screen, select Yes
   • You need to use TurboTax Premier or Home & Business to do this. If you're using a different product, you'll be able to change products.
5. Select CSV, 1099-B, 1099-K, Gain/Loss Report on the OK, let's start with one investment type screen
6. On the What's the name of the crypto service you used? screen, select your crypto service from the dropdown and Continue
7. Select Type it in myself on the Uploading your crypto CSV file makes taxes easier screen
8. Answer the questions and continue through the screens

[CarissaM]

Have you followed the guide here, on uploading the CSV into Turbo Tax? @surpaw 

[smajee]

The desktop version is frustrating, why would I use online when I have all my data on desktop. So can somebody tell us how to import crypto loss/gain in the desktop verson please. 

[JamesG1]

One option is to start a free tax return in TurboTax Premier Online. You do not pay for the return until you file it, so you won't have to pay a fee for the Online version.  Enter (import) your cryptocurrency information in the Crypto section, and then open the TurboTax Premier Online with TurboTax CD/Download Desktop.

See here.

Then you add the rest of your tax data and file.

Does your provider generate a .csv file for your use?  Another option to consider is to upload cryptocurrency information into TurboTax CD/Download Premier Desktop.

A .csv file can be converted to a .txf file using a utility such as Easytxf.  Then import the .txf file into TurboTax CD/Download Premium Desktop.

• Use Easytxf to convert the .csv file into .txf file.
• Import .txf file into Turbotax Desktop:    File / Import / From Accounting Software / Other Financial Software (TXF) file /  Continue / Choose a File to Import / Import now.
• A 1099-B with all Cryptocurrency transactions is now created.   This entry can now be edited to include the account details.  Each transaction can be edited as well.

@smajee 

[deidreclarice]

Since the thread is a year old, there may have been updates or changes to Turbotax since then. It's always a good idea to check for the latest version or updates to see if the Crypto line has been added.
If you're still experiencing difficulties finding the Crypto line in Turbotax Premier, I recommend reaching out to Turbotax customer support directly. They will have the most up-to-date information and can guide you through the process of reporting your cryptocurrency transactions accurately.
In the meantime, you can also explore alternative software options like https://tinytrader.com/. Their website might have useful features specifically tailored for reporting cryptocurrency transactions.