Reporting cryptocurrency is similar to reporting a stock sale. You'll need to report your crypto if you sold, exchanged, spent, or converted it. For hard forks and airdrops, you only have taxable income if it results in new crypto.
You have to do this for every trade you make. If you bought coins at different prices or sold partial amounts, you have to keep track and record the difference of what you sold. The most common way to do this is to download your order or trading history from your exchange’s website. You may need to do this a few times throughout the year due to limits on how far back you can get information.
Once you have your figures, go here to learn how to add your crypto to TurboTax.
There's an upload limit of 4,000 cryptocurrency transactions in TurboTax. If you have more than that, you’ll need a transaction aggregator. We’ll walk you through that in the crypto section.