Crypto entry issue

Forum|Forum|4 years ago
April 7, 2022
1 reply
2 views

I need to import or manually enter my crypto sale. But, when I go to Investment Income under Wages and Income, my TurboTax does not show Crypto (1099-B). What should I do?

RaifH

Level 10

Cryptocurrency transactions can be imported into TurboTax Online but must be manually entered into TurboTax Desktop. To report them in TurboTax Online:

With your return open, go to Federal > Income & Expenses
Open the Investment Income section and start or revisit Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Continue by selecting Yes and then clicking on Cryptocurrency
You can try any of the import options or to manually enter them.

To report in TurboTax Desktop:

In the Personal > Personal Income section, scroll down to Investment Income and click Start/Update next to Stocks, Mutual Funds, Bonds, Other.
Click Add More Sales.
Answer Did you get a 1099-B or a brokerage statement for these sales?

TurboTax has a cryptocurrency hub that you may find helpful for the reporting and import of your transactions.

ChaloosAuthor

Level 2

Thank you RaifH. I have the desktop version of TurboTax and after posting my question, I found out that the desktop version doesn't have cryptocurrency. Anyway, I really appreciate your response. Your response was very thorough and to the point.

Chaloos