Turbotax Premier 2020 download version help

Can you please clarify? I see you are using the download version, are you looking to get live help? You may also see the TurboTax link below for additional information:

How do I report earnings or losses from Bitcoin and other cryptocurrency?

I am having the same problem. I have TurboTax Premier that was upgraded to Home & Business and there is supposed to be a section to report cryptocurrency gains or losses, but it doesn't exist in my version. There is no way for me to report on cryptocurrency.

Cryptocurrency sold, exchanged, spent or converted, is treated as a sale of a property.

Like property sales or the sale of stock, any gain or loss from the sale or trade of cryptocurrency is reported as a capital gain or loss. If you buy and sell it within 12 months, it’s treated as a short-term capital gain. If you hold it for over 12 months, it’s taxed at the lower, long-term, capital gain rates.

Follow these steps in the Premier Edition:

1. Open (continue) your return in TurboTax.
2. In the search box, search for investment sales and then select the "Jump to" link in the search results.
3. Answer Yes to the question Did you sell any investments?  (If you land on the Here's the investment sales we have so far screen, select Add More Sales.)
4. Continue following the onscreen instructions and we'll calculate the gain or loss from the sale. Note: There isn't a specific section for digital currency, but if you answer the questions related to sales, we'll be able to do the proper calculation.

OR if the jump-to link is not working

1. Select the Federal tab
2. Select Wages and Income 
3. Select Investment Income
4. You'll list each trade/sale in the Stocks, Mutual funds, Bonds, Other interview 
5. When asked Did you get a 1099-B or a brokerage statement for these sales? select No 
6. When asked to Choose the type of investment you sold select Everything else
7. Translate proceeds of each transfer into US dollars at the time of the transfer
8. Repeat for each

"Cindy0H New Member"

 

Please see the TurboTax FAQ below for more information:

How do I report Bitcoin or other cryptocurrency as a capital gain?

 

@blueskypeak