does turbotax premier 2022 desktop version support cryptocurrency yet or is it still the online version only

[ekilada]

does turbotax premier 2022 desktop version support cryptocurrency yet or is it still the online version only.

I am not sure why they allowed it only in the online version in 2021.

[CarissaM]

Turbo Tax Premier Online supports reporting cryptocurrency. 

You can review the forms received and needed to report cryptocurrency here. You can review what Turbo Tax Premier Online supports here. 

Please let us know if we can further assist you. 

[ekilada]

Thank you. I have already bought the desktop version of the premier TurboTax. How can I file my cryptocurrency transactions? Why doesn’t TurboTax desktop not support filing cryptocurrency. I find this pretty inconvenient. 

thanks,

Eiyah

[VolvoGirl]

It can be done.  You can only import crypto into the Online version.  For Desktop program you can start a free online Premier return to import it then download the .tax2022 file for free and open it in the Desktop program.  But that would mean starting over with the new file and losing all the Desktop entries you already made.

You can import crypto into Online Premier and download the .tax2022 file to open in the Desktop program.  Download the .tax2022 file for free

How do I save my TurboTax Online return as a tax data file?

Then to continue in the desktop version see this…….

https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-th...

[ekilada]

Thank you for the help. It's pretty inconvenient that I need to start the return over using the online turbo tax just to get the crypto data. Anyway, I did that and created a data file which I can open with my desktop software. However, when I open the data file; I do not see how I can import my personal data from my last year's return.. That was a pretty convenient method. Would you happen to know how I can import my personal data from my last year's return into that data tax return file I downloaded from the online version?

[ekilada]

I did some research. Looks like I must restart the online return and first import from last year's then do your method of doing the crypto stuff online, and then download and use the desktop app. And hopefully I will be done before 4/15. 

[ecl3rd]

I have this same issue, very frustrating.

It's not obvious to me how to start a free online premier return in order to transfer the 2022 tax return.

How do you start a free premier return?

Thank you

[VolvoGirl]

Since you have to start a new blank Online return you can start the Online return by transferring 2021 from your computer if you used Turbo Tax Desktop last year.

Start an online Premier version here

TurboTax Premier Online 2022-2023 | Investment, Stocks & Crypto Taxes

How to transfer into the Online version.  You need to have the prior year .tax2021 file on your computer.  Expand the link if you used the CD/download last year........

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-transfer-last-year-s-return-into-...

Then import crypto and download the .tax2022 file to open in the Desktop program.  Download the .tax2022 file for free

How do I save my TurboTax Online return as a tax data file?

Then to continue in the desktop version see this…….

https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-th...

[ecl3rd]

Thank you but I didn't use Turbotax for my 2021 taxes. Is that necessary?

[VolvoGirl]

Only if you want to transfer from 2021.  How did you do 2021?  You might be able to transfer from a pdf file but that only transfers very limited info like your ssn, name & AGI.  

How to transfer into Turbo Tax Online, including from a pdf file or other software or from the Desktop program

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-transfer-last-year-s-return-into-...

[slayer556]

An "expert" needs to write a whole article on the best approach to do this. Also, there should be a FYI when buying the turbo tax premiere that it doesn't support cryptocurrency, otherwise I wouldn't have bought it. Am I still able to return it even though I've already opened it and used the license code? It's like no work was done on the desktop premiere version from last year. Please write a step-by-step method of how to import cryptocurrency tax documents in a  clear and concise way

[ee-ea]

@slayer556  https://ttlc.intuit.com/turbotax-support/en-us/help-article/cryptocurrency/cryptocurrency/L4tWUeZUU_...

[ecl3rd]

Yes, the TurboTax 2022 Premier desktop version does support crypto. I came across the same issue earlier this week and only discovered today that it is supported at least with the Koinly application. Here's the website  explaining how to simply upload the Koinly CD/Download TXF file in the desktop version.

https://koinly.io/blog/how-to-do-your-crypto-tax-turbotax/

9. Upload your Koinly TurboTax Online report. Please note, If you're using TurboTax Desktop, you can upload your Koinly crypto tax file by going to 'file', then 'import', then 'from accounting software'.

10. Double check your summary to ensure the totals, number of disposals, proceeds and cost basis are correct.

If you have a report from another application perhaps the same process can be used?

[slayer556]

Thank you, but this doesn't help with the problem I stated, which is with Turbo Tax Premiere Desktop

[ecl3rd]

Sorry about that. I'm not expert but can you be more specific in your need? Your request was that someone 'Please write a step-by-step method of how to import cryptocurrency tax documents in a clear and concise way.'

You have crypto tax documents from an exchange or service? Are the documents in a CSV, PDF, or TXF format? The TXF can easily be uploaded to the desktop version as I pointed out.