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Which section of the tax return do I report cryptocurrency transactions from coinbase?
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Cryptocurrency transactions are reported on Form 8949, and the resulting long-term and/or short term gains/losses then flow to Schedule D. To report your cryptocurrency transactions in TurboTax, it is recommended you use TurboTax Online if you have a lot of transactions and/or you want to import them. To do so, while logged in to your return:
- Click on Search
- Type in "cryptocurrency" and hit enter
- click on "Jump to cryptocurrency"
- TurboTax will guide you through entering your crypto transactions.
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