How to File Crypto Taxes with TurboTax (Step-by-Step)
Written by:
Miles Brooks
Written by:
Miles Brooks
Director of Tax Strategy
Miles Brooks holds his Master's of Tax, is a Certified Public Accountant, and is the Director of Tax Strategy at CoinLedger.
Reviewed by:
Jordan Bass
Reviewed by:
Jordan Bass
Head of Tax Strategy
Jordan Bass is the Head of Tax Strategy at CoinLedger, a certified public accountant, and a tax attorney specializing in digital assets.
Our Editorial Standards:
Our content is designed to educate the 500,000+ crypto investors who use the CoinLedger platform. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn More
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Frequently asked questions
Does TurboTax calculate crypto gains?
While TurboTax supports cryptocurrency, the platform does not have the same level of functionality as a native crypto tax calculator like CoinLedger.
How do I report cryptocurrency on my taxes?
Cryptocurrency gains and losses should be reported on Form 8949 while cryptocurrency income should be reported on Schedule 1, Schedule B, or Schedule C depending on the nature of your earnings.
How do I report staking and mining income on TurboTax?
Cryptocurrency income from staking and mining crypto as a hobby can be entered as ‘Miscellaneous Income’ in the TurboTax platform.
How do I format my cryptocurrency transactions into csv format for TurboTax?
With CoinLedger, you can download a csv file of all of your cryptocurrency transactions formatted specifically for TurboTax!
Where is the crypto tax question on TurboTax?
If you earned cryptocurrency or disposed of cryptocurrency during the tax year, you’re required to answer ‘Yes’ to the crypto tax question on Form 1040.
CoinLedger has strict sourcing guidelines for our content. Our content is based on direct interviews with tax experts, guidance from tax agencies, and articles from reputable news outlets.
KNOWLEDGE BASE
Demystify Crypto Taxes
The Ultimate Crypto Tax Guide (2024)
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out.