Hey TurboTax Team! I'm wondering if it is possible to include Cryptocurrency exchanges (GDAX, Poloniex, Kraken, etc) to your software for claiming capital gains taxes?

I have used TurboTax the past 5 years to import all my information from Scottrade, Etrade, etc. In that same sense, when people go to claim my gains/losses, can the development team please include Cryptocurrency exchanges (Coinbase - GDAX, Poloniex, Kraken, etc)? Without the inclusion of these exchanges, many people may have to go to a tax office to get their taxes done going forward and will no longer be able to use TurboTax for it's ease of use.

Please forward this message to the TurboTax developer team so that they can consider adding in cryptocurrency exchange investment gains/losses to the list of investment accounts. Otherwise, many people will have to input every trade by hand instead of easily importing all the information.


12 people found this helpful

Consider it forwarded.  But it's not really up to Turbotax; the brokerage firm must agree to make their data available in a compatible format.  I'm not aware that the cryptocurrency exchanges do that.  There would be a number of US laws and regulations they would have to follow to produce IRS-compliant reports (standard format, standard account methods for tracking gains -- e.g do they use averaging or FIFO or something else -- etc.)   If they did, and if there was enough demand, TT would be able to integrate it.

Was this answer helpful? Yes No

No answers have been posted

More Actions

People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Do you still have a question?

Ask your question to the community. Most questions get a response in about a day.

Post your question to the community