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You can Edit, Delete, or Add a transaction.

The next screen will be a summary of your entries: Here's all the sales reported by.

When you are finished, on the screen Do you have another sale. mark the No box and click Continue.

Continue entering summaries of the transactions for all the categories.

If you marked Yes , a Sale #2 - Tell us about your 1099-B screen will appear to enter the information on another category.

On the screen, Do you have another sale to enter from your Big Bucks Brokerage 1099-B? mark the appropriate button.

After entering your information for this category, click the Done box.

Boxes will appear for you to enter the proceeds, basis, and category.

On the screen, Tell us about your 1099-B, mark the button I'll enter a summary for each sales category.

Enter the name of the bank or brokerage and click Continue.

On the screen, Choose your bank or brokerage, click on the box I'll type it myself.

Click the Yes box on the screen Did you get a 1099-B or a brokerage statement for these sales?.

If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.

In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.

The Coinbase integration is available in several products, including TurboTax Premier, TurboTax Self-Employed, TurboTax Live Premier and TurboTax Live Self-Employed. Also check back with the TurboTax blog for more articles on cryptocurrency topics. Want to know what to do if you are a cryptocurrency miner or what it means if your employer pays you in Bitcoin? Check out our article covering IRS Guidance on the Taxation of Bitcoins and Virtual Currency.

Purchased cryptocurrency with a Self-Directed IRA or Solo 401(k).Gifted cryptocurrency to a friend or family member and the gift was under $15,000 per person receiving the gift.Bought cryptocurrency but have not sold it.Your transactions are not taxable if you:

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Received free coins through a fork or an airdrop.Spent cryptocurrency to pay for goods or services.Converted cryptocurrency to a regular currency like US dollars.You’ll need to report cryptocurrency as income if you did any of the following: Taxes and Crypto 101: What you need to know If you are using the Online Product, all you have to do is go to the Investments section and start entering your transactions - TurboTax.

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To upgrade in desktop, click on Help at the top, then choose Upgrade TurboTax. But you cant import crypto into the desktop, no matter which version you have. A TurboTax Live Premier CPA or Enrolled Agent can also review, sign, and file your tax return. If you want the extra guidance, you can upgrade. If you still have any burning crypto tax questions, with TurboTax Live Premier, you can connect live via one-way video to TurboTax Live CPAs and Enrolled Agents with over 15 years average experience to get your tax questions answered right from the comfort your living room. One thing to keep in mind, not every cryptocurrency transaction constitutes a taxable event, which is why we have tons of guidance to assist you in understanding and selecting which transactions are taxable while you are in TurboTax Premier.

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csv you download from Coinbase won’t have information about crypto transactions outside of Coinbase (including on Coinbase Pro), so it’s important to review and verify the information for accuracy depending on how you transacted on Coinbase. Find ' Form 8949 TurboTax CSV' and click 'Generate Report. You will then see a list of the reports you can create. Click the 'Create Report' button on the right side of the screen. Go to the 'Documents' tab of your TokenTax dashboard. csv files will include the cost basis of your Coinbase transactions (if available) so TurboTax Premier can easily help you file your cryptocurrency transactions. Generate your TurboTax crypto tax documents.

Now, you can upload up to 100 Coinbase transactions from Coinbase at once, through compatible. We’ve built a solution that allows you to import transactions from Coinbase to TurboTax, with plenty of help and resources along the way.īefore, you were required to manually enter each taxable transaction, which could take hours. TurboTax is taking steps to streamline the crypto community’s experience this tax season. While the IRS released its initial guidance in 2014, you still might wonder what is considered a taxable event and how you should report it in order to be in compliance. Whether you got into cryptocurrency trading last year, have been a holder since 2011, or your employer pays you in Bitcoin or Ethereum, you need to know what all of these transactions mean for your taxes.

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