Question

Crypto currency in Turbotax Premier - cant find

Forum|Forum|4 years ago
February 22, 2022
1 reply
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HI, I have Turbotax Premier from Costco and I cant find any way to enter a sale of a cryptocurrency. Under wages and Income there is no crypto , under investments there is no crypto. But all the online help including this forum says there is. What is the problem???

Do I have to just enter it like a stock sale?

Thanks for the help.

Terry

PatriciaV

Employee

Yes, if you sold cryptocurrency during the tax year, you would report this as a stock sale on Schedule D. You'll find this in TurboTax CD/Download under Income >> Investment Income >> Stocks, Mutual Funds, etc.

However, you may have other cryptocurrency transactions that are reported in other areas of your tax return. TurboTax has a Cryptocurrency Info Center that may assist you in determining where to enter all your cryptocurrency transactions.

Also note that only the TurboTax Online Premier and Self-employed versions allow you to import cryptocurrency. TurboTax CD/Download does not. If you have many transactions to report, you may wish to consider one of the following options:

One option is to start a free tax return in TurboTax Premier Online. You don't pay for the return until you file it, so you won't have to pay the Online fee. Enter (import) your cryptocurrency information in the Crypto section, and then save the .tax file (not PDF). You can then open the tax file in TurboTax desktop, add the rest of your tax data and file.