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peggyrph
New Member

Trying to enter a crypto sale into online and Turbo Tax’s says I have to upgrade to Premium. I check and accept Premium and my screen goes white. What do I do?

How do I get around Cash App not working with Turbo Tax when trying to import a CSV for crypto sales?
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1 Reply
DianeW777
Expert Alumni

Trying to enter a crypto sale into online and Turbo Tax’s says I have to upgrade to Premium. I check and accept Premium and my screen goes white. What do I do?

It depends. You may want to enter 'summary' sales manually if the import is not working for you.  Combine your long term sales and short term sales then make two entries in TurboTax as Investment Income.

 

You can always use direct entry with summary totals.  The only exception is wash sales, which must be entered separately, if you have any.

Holding Periods:

  • Long term is a holding period of more than one year (one year plus one day) and receives capital gain tax treatment (0%, 10%, 15%, 20% depending on your regular rate of tax)
  • Short term is a holding period of one year or less and receives ordinary gain tax treatment (your regular rate).

Your brokerage statements and/or your CSV file should include a summary of your transactions, grouped by sales category, for example, Box A short-term covered or Box D long-term covered

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