Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Feb 16, 2023 4:50:00 PM

NFT Import from ETH Wallet

Hi,

 

I am a NFT artist who buys and sells NFT on eth network. TurboTax asked me if I sold NFT and I answered yes. But then it says NFT will be available soon. When is that soon? Is it this year?

0 5 587
5 Replies
Expert Alumni
Feb 17, 2023 9:41:33 AM

NFT is a capital asset and when sold goes on sch D. When you sell crypto- also property, it is also reported on sch D. Unless you sold the crypto at a loss due to personal use, like a drink at Starbucks.

Sch D is available and you can enter the transaction using Stocks, Mutual Funds, Bonds, Other. 

 

If you are trying to import from a partner, see if your company is a participating TurboTax Import Partner. Since TurboTax must work with other companies as they prepare forms and then make it work in our system, the best option would be to contact them and see when they will be ready and then add a couple of days for us to make it work.

Level 2
Feb 19, 2023 4:21:15 PM

I got a message from TurboTax that says "NFT will be available soon". What does that mean though? 

Intuit Alumni
Feb 22, 2023 1:39:56 PM

How did you receive the TurboTax message? Was it in TurboTax or via email? @ReyBafa

Level 2
Feb 24, 2023 6:26:47 AM

While filing taxes online, TurboTax asked me "Did I sell any NFT?" in the Crypto section and I answered yes. Then a message popped up and said it will be available soon and will be notified by email. So my question is when is that "soon"?

Intuit Alumni
Feb 28, 2023 9:49:47 AM

We do not have access to that information in this public forum. Please feel free to contact Customer Support so you can speak with someone who can assist you.

@ReyKafi