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joseybell
Level 2

Can I change my off-line Turbo Tax license to an on-line license? I don't want to pay a second time to use the on-line service.

I found out that the off-line version does not do crypto and have to do my taxes on-line.
1 Best answer

Accepted Solutions
Irene2805
Expert Alumni

Can I change my off-line Turbo Tax license to an on-line license? I don't want to pay a second time to use the on-line service.

You don't pay for a TurboTax Online return until you print or file it.  You can import your crypto currency information into TurboTax Online.  Then download your tax file to your computer and open it in TurboTax program you have installed on your computer.

 

To download your tax file please follow these steps:

  1. While in your online return, in the black bar on the left of your screen, click Tax Tools > Tools
  2. In the Tools Center select Save your 2020 return to your computer.
  3. The file will download and appear in the Downloads folder on your computer.

@joseybell

 

 

 

View solution in original post

5 Replies
MarilynG1
Expert Alumni

Can I change my off-line Turbo Tax license to an on-line license? I don't want to pay a second time to use the on-line service.

You are better off using TurboTax Desktop for reporting crypto transactions than TurboTax Online.

 

Though they both handle crypto transactions, in the desktop product you can actually type info directly onto the tax forms, which you cannot do in TTO.  This is definitely a consideration for crypto. 

 

Click this link for more into on Reporting Crypto Transactions

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joseybell
Level 2

Can I change my off-line Turbo Tax license to an on-line license? I don't want to pay a second time to use the on-line service.

This would be a good choice if I could decide what to put in by hand.  Since I can't, I had to use cryptotrader.tax  and it only imports into the on-line version.

joseybell
Level 2

Can I change my off-line Turbo Tax license to an on-line license? I don't want to pay a second time to use the on-line service.

I figured out how to do this.  I use cryptotrader.tax and generate a pdf version of the 8949. I print it out and transcribe those numbers into the TurboTax.  Haven't tried it yet, but I think it may work.

 

Irene2805
Expert Alumni

Can I change my off-line Turbo Tax license to an on-line license? I don't want to pay a second time to use the on-line service.

You don't pay for a TurboTax Online return until you print or file it.  You can import your crypto currency information into TurboTax Online.  Then download your tax file to your computer and open it in TurboTax program you have installed on your computer.

 

To download your tax file please follow these steps:

  1. While in your online return, in the black bar on the left of your screen, click Tax Tools > Tools
  2. In the Tools Center select Save your 2020 return to your computer.
  3. The file will download and appear in the Downloads folder on your computer.

@joseybell

 

 

 

View solution in original post

joseybell
Level 2

Can I change my off-line Turbo Tax license to an on-line license? I don't want to pay a second time to use the on-line service.

Thanks, this is even easier.

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