Submitting crypto csv files

[redhaze]

Will I still need to pay for a third party company to compile my crypto taxes properly so TurboTax can read the .csv file this year? 

[ReneeM7122]

No, TurboTax can help you get a .csv file and bring it directly into the software.

Here's how to get a .csv file from Coinbase and transfer it to TurboTax.

Facts to keep in mind about virtual currency

The IRS treats virtual currency as a capital asset for U.S. federal tax purposes.  That means that when virtual currency is sold, the sale is subject to either short-term or long-term capital gains tax.  That's why the .csv file is so important.  It lists the dates that the virtual currency was acquired and when it was sold. Short term capital gains are taxed at the ordinary income rate, and long term is taxed at 15 or 20%, based on your income.  It's beneficial to you to hold your virtual currency for more than twelve months before selling it, so you pay less tax. 

[tbosticco]

Why can't I see the link to the original instructions?  (Link says access denied) And how do I perform this using the Desktop version of TurboTax Premier?

[CarissaM]

You can view the link to the instructions here.