topic Re: Crypto in Get your taxes done using TurboTax

Crypto

Nick6adams — Mon, 09 Mar 2026 04:16:49 GMT

Can someone provide a list of 3rd party crypto tax websites that calculate crypto taxes for staking/defi that is compatible with TurboTax? Currently I see Koinly and possibly Zenledger.

Re: Crypto

JohnB5677 — Sun, 30 Jan 2022 17:01:20 GMT

A cryptocurrency that you have received through staking rewards is treated as ordinary income per IRS guidelines; this means that you will owe tax on the entire (USD) value of your crypto on the day that you received it at your regular income tax rate.

TurboTax has a Tax Calculator: TurboTax Cryptocurrency Tax Calculator

Re: Crypto

Nick6adams — Sun, 30 Jan 2022 17:07:00 GMT

I am talking about staking/defi…this is different than just buying and selling bitcoin on coinbase.

Re: Crypto

Nick6adams — Sun, 30 Jan 2022 17:54:14 GMT

My question is can turbo tax calculate my staking taxes? Or do I need to use a 3rd party?

Re: Crypto

JohnB5677 — Mon, 31 Jan 2022 14:26:36 GMT

Yes, TurboTax will calculate taxes on Staking positions. This will be included in your taxable income on your tax return.

Staking will generate passive income. This is similar to getting interest in a checking account.

Staking will be taxed in the year that you receive it (Taxed as USD)
Post to Wages & Income
Less Common Income
Miscellaneous Income, 1099-A, 1099-C
Income from renting out personal property (not rental real estate or farm rentals)

Re: Crypto

Nick6adams — Sun, 27 Feb 2022 15:37:51 GMT

Will TurboTax import the transactions from the DAO? So that I can pay taxes on my staking gains?

Re: Crypto

HelenC12 — Tue, 01 Mar 2022 17:06:03 GMT

At this time, TurboTax does not support transaction imports form DAO. However, we're working to support more exchanges in the future.

Cryptocurrency airdrops, along with promos and staking rewards are (usually) free distributions of coins or tokens into multiple wallet addresses to promote and drive adoption of a new virtual currency.

To enter, please see the TurboTax FAQ How do I report a crypto airdrop?