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Hey TurboTax Team! I'm wondering if it is possible to include Cryptocurrency exchanges (GDAX, Poloniex, Kraken, etc) to your software for claiming capital gains taxes?

mannakhan10 — Tue, 04 Jun 2019 22:25:31 GMT

I have used TurboTax the past 5 years to import all my information from Scottrade, Etrade, etc. In that same sense, when people go to claim my gains/losses, can the development team please include Cryptocurrency exchanges (Coinbase - GDAX, Poloniex, Kraken, etc)? Without the inclusion of these exchanges, many people may have to go to a tax office to get their taxes done going forward and will no longer be able to use TurboTax for it's ease of use.

Please forward this message to the TurboTax developer team so that they can consider adding in cryptocurrency exchange investment gains/losses to the list of investment accounts. Otherwise, many people will have to input every trade by hand instead of easily importing all the information.

Consider it forwarded. But it's not really up to Turbota...

Opus 17 — Tue, 04 Jun 2019 22:25:33 GMT

Consider it forwarded. But it's not really up to Turbotax; the brokerage firm must agree to make their data available in a compatible format. I'm not aware that the cryptocurrency exchanges do that. There would be a number of US laws and regulations they would have to follow to produce IRS-compliant reports (standard format, standard account methods for tracking gains -- e.g do they use averaging or FIFO or something else -- etc.) If they did, and if there was enough demand, TT would be able to integrate it.

See (https://support.coinbase.com/customer/en/portal/articles/1496488-taxes-faq">https://support.coinbase.com/customer/en/portal/articles/1496488-taxes-faq</a>). How do I import the Cost Basis for Taxes .csv file from Coinbase/GDAX into TuroboTax?