You will need to be using the Online version of TurboTax Premier in order to utilize the cryptocurrency functions of the software. TurboTax Online SignOn Screen
Once in your return in TurboTax Online, complete the steps in the following Help Article to be brought to the Cryptocurrency section. How do I report Bitcoin or other cryptocurrency as a capital gain?
As you noted, you must scroll down to Investment Income and then select "show more" to see the Cryptocurrency option. See the sample screenshot below.
And an additional Help Article: How do I get a CSV file from Coinbase?
How do you register your desktop license to the online version in order to accomplish this? Or do you have to pay for turbotax twice?
Hello,
Did you ever resolve this problem? I am now having the same issue with my 2021 Taxes.
Thank you!
Please see the below TurboTax help article to assist with importing your Cryptocurrency.
How do I import my cryptocurrency transactions into TurboTax?
My version does not have a Crypto section. When I try to enter a 1099 and try to import data, type Coinbase in the search section nothing pops up. I have the downloaded version, not the online version.
Only the TurboTax Online Premier and Self-employed versions allow you to import cryptocurrency.
One option is to start a free tax return in TurboTax Premier Online. You don't pay for the return until you file it, so you won't have to pay the Online fee. Enter (import) your cryptocurrency information in the Crypto section, and then save the .tax file (not PDF). You can then open the tax file in TurboTax desktop, add the rest of your tax data and file.
The other option would be to file using the Online software and get a refund for the desktop program.
Related information:
Source: DawnC
Thank you for being frank but I feel taken! Can't Turbotax upgrade/patch our Premier CD/Download Version. Premier is supposed to be the best and it doesn't have the Crypto section.
Tried that, they require you to purchase the next level of Turbo Tax if you sold investments. The only free version is for simple taxes.
wait so i start my tax yr 2021 return in tt online.
2. then just get my crypto loaded
3. then download tt file
4.then import into existing return started w dvd tt?
5. then i can complete return using my alrdy paid for tt dvd ?
Yes but you can't import it into a return you already started. You only can open the .tax2021 online file in the Desktop program.
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 .tax2021 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.
1. once i have the online w crypto file created in my tt tax yr 2021 -
AND after i open the online created file w my crypto trans in it
2. can i auto import my tt tax yr 2020 infomation or ?
No, sorry. You would have to enter everything else. Hmmmm, you can start the Online return by transferring 2020 from your computer.
How to transfer into the Online version. You need to have the prior year .tax2020 file on your computer. Expand the link if you used the CD/download last year........
Then import crypto and download the .tax2021 file to open in the Desktop program.
I feel taken too. I have the desktop premiere as well- just for the crypto- and now I have to do a workaround. I hope this works.
Another option to consider is to upload cryptocurrency information into TurboTax CD/Download Premier Desktop.
A .csv file can be converted to a .txf file using a utility such as Easytxf. Then import the .txf file into TurboTax CD/Download Premium Desktop.