Can I file cryptocurrency taxes on TurboTax?

Yes, TurboTax Premier supports cryptocurrency reporting. Paired with TokenTax, TurboTax simplifies complex filings, making it accessible for crypto users. Below, we explain step-by-step how to report your crypto on TurboTax.

Calculate your crypto gains with our free crypto profit calculator.

How to file cryptocurrency taxes with TurboTax

Follow these steps to report your cryptocurrency transactions in TurboTax:

1. Generate your TurboTax crypto tax documents

• Go to the “Documents” tab on your TokenTax dashboard.

• Click “Create Report,” select “Form 8949 TurboTax CSV,” and generate the report.

• Download your report to your computer.

2. Start your tax return in TurboTax

• Log into TurboTax Premier or create an account.

• During the introduction, select “I sold or traded cryptocurrency.”

3. Find the Wages & Income screen

4. Import your TokenTax crypto tax documents to TurboTax

• Under “Investments and Savings,” click “Revisit” next to “Stocks, Cryptocurrency, Mutual Funds.”

• Select “Upload it from my computer” and follow the prompts to upload your CSV from TokenTax.

How to enter crypto into TurboTax Online

To enter crypto transactions in TurboTax Online:

• Navigate to “Federal” -> “Wages & Income” -> “Investments and Savings.”

• Select “Cryptocurrency,” then upload your TokenTax CSV report.

TurboTax supports up to 20,000 transactions for online reporting.

How to report crypto on TurboTax Desktop

TurboTax Desktop supports up to 10,000 transactions. To import crypto:

1. Generate a TXF file from your TokenTax dashboard.

2. In TurboTax, go to “File -> Import -> From Accounting Software” (Windows) or “From TXF Files” (Mac).

3. Select your TXF file and import.

If you’re using the TurboTax Desktop version

TurboTax Desktop requires a Form 8949 TXF file (not CSV). If you are using TurboTax Desktop, ask for or generate the 8949 TXF version in the TokenTax documents center and follow the instructions to import.

Help! TurboTax says I have too many transactions on my Form 8949

If you’ve conducted more than 4,000 transactions in the last tax year, TurboTax will reject your e-file. You will need to submit your summary totals to TurboTax instead. If you’re a TokenTax user and require a summary capital gains file for TurboTax, contact our live chat support and ask for an aggregated TurboTax CSV. This will allow you to import your summarized short and long-term gains/losses to TurboTax. Only use this option if you mail the complete 8949 separately with Form 8453.

Then, within three days of your e-file being accepted by the IRS, you will need to physically mail your Form 8949 and the IRS Form 8453 generated by TurboTax to the following address:

Internal Revenue Service
Attn: Shipping and Receiving, 0254
Receipt and Control Branch
Austin, TX 73344-0254

How do I report ordinary crypto income with TurboTax (not capital gains/losses)?

When reporting crypto on your taxes, you must include any crypto-related income from staking rewards, airdrops, mining income, interest from lending, and other earnings. You will want to generate an Income Report, along with your 8949, with TokenTax to help you meet reporting requirements.

• In TurboTax, navigate to “Wages & Income” -> “Less Common Income” -> “Miscellaneous Income.”

• Enter your ordinary income, using your TokenTax report for accuracy.

How to report mining, staking, or airdrops on TurboTax

Crypto earned through mining, staking crypto, or airdrops is considered ordinary income. If you received a Form 1099-MISC from an exchange, report it under “Other Common Income” in TurboTax.

Use our free crypto tax calculator.

Which crypto exchanges does TurboTax support?

TurboTax supports CSV imports from popular exchanges, including:

• Coinbase

• Binance US

• Kraken

• PayPal

• CashApp

See our expert picks of the best crypto exchanges.

Which crypto wallets does TurboTax support?

TurboTax allows transaction imports from wallets like:

• MetaMask

• Ledger

• Trust Wallet

• Coinbase Wallet

See our expert picks of the best crypto wallets.

Which cryptocurrencies does TurboTax support?

TurboTax supports major cryptocurrencies, including:

• Bitcoin (BTC)

• Ethereum (ETH)

• Solana (SOL)

• Polygon (MATIC)

For the latest updates, check TurboTax’s supported assets list.

Learn more about the different types of cryptocurrency.