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In this guide, we’ll walk through a step-by-step process to report your bitcoin and cryptocurrency on TurboTax both online and desktop versions.
Can I file cryptocurrency taxes on TurboTax?
Yes, TurboTax allows users to report cryptocurrency taxes.
While TurboTax is one of the best tax platforms on the market, it’s important to remember that it wasn’t built with cryptocurrency in mind. As a result, it doesn’t always have the integrations and functionality needed to make reporting your crypto taxes stress-free.
This is why TurboTax has partnered with CoinLedger to help users aggregate crypto transactions across all of their wallets and exchanges and then import relevant tax forms directly into their TurboTax account.
How to enter crypto gains and losses into TurboTax Online
Here’s how you can report your cryptocurrency within the online version of TurboTax.
1: Open TurboTax
Head to TurboTax Online and select your package. Both Premier and Self-Employment support cryptocurrency tax reporting.
2. Answer initial prompts and questions
Upon first sign-in, TurboTax Online will ask you to complete some initial prompts and fill out your basic information. You are not able to move forward within the app until this step is completed.
3. Answer crypto questions
Whenever prompted, make sure to let TurboTax know about your cryptocurrency transactions. For example, you might see a screen like this below:
On any of these screens, be sure to indicate if you sold or traded cryptocurrency.
4. Open 'Wages and income'
Within Wages and Income, click to Start/Edit the Investments and Savings section (this is where the cryptocurrency module is).
5. Select 'Yes' to having investment income in 2025
If you are prompted with the question "Did you have investment income in 2025?" select ‘Yes’.
6. Tell TurboTax about your trading activity
Now, TurboTax will ask some more questions about your crypto trading activity.
If prompted, select Yes for the question "Did you have crypto income or losses in 2025?"
You may also be asked about whether the crypto you sold was transferred between wallets and exchanges, whether you bought/sold an NFT, whether you earned cryptocurrency rewards, and whether you participated in DeFi/a DAO. Make sure to answer all these questions accurately.
7. Select 'Enter a different way'
Click ‘Continue’ on the next screen once you have answered all of TurboTax's questions about your crypto trading activity. Then, select ‘Enter a different way’ on the screen shown below.
Do not select ‘Connect’. This will cause your import to fail.
8. Select 'Upload'
On the next screen, press 'Upload', then 'Continue'. This will allow you to upload the TurboTax Digital Assets (PDF) from CoinLedger. Learn how to download that file HERE.
9. Upload the TurboTax Digital Assets
Upload the TurboTax Digital Assets (PDF) you downloaded from CoinLedger. Review your capital gains. Then, click 'Continue'.
Congrats! You have finished.
That’s the end of the process! If you’ve completed all of the steps above, you’ll be able to see a complete record of your crypto gains and losses.
How do I report ordinary crypto income on TurboTax Online (not capital gains/losses)?
Remember, the process above is designed to help you report your capital gains and losses. If you’ve earned cryptocurrency income, such as mining and staking rewards, you will have to report this separately.
At this time, TurboTax does not support the ability to directly report staking and mining income. You can report this type of income through the following steps.
Go to the Federal Tab, then click ‘Wages & Income’.
Find the row labelled ‘Less Common Income’, then click to show more.
Navigate to the section labelled ‘Miscellaneous Income, 1099-A, 1099-C’ and click the ‘Start’ button.
Navigate to the last section labelled ‘Digital assets not reported anywhere else’ and click the ‘Start’ button.
Here you can enter the details for your cryptocurrency income from staking, interest, etc. during the tax year. You can easily find all of your ‘crypto income’ within your CoinLedger income report.
How do I report my taxes on TurboTax Desktop?
The Desktop version of TrboTax allows you to report your crypto gains, losses, and income. If you’re using the Desktop version of TurboTax, you’ll need to download a txf file of your cryptocurrency transactions instead of a csv.
To learn more, check out our Help Center article that outlines the complete step-by-step process on how to report your taxes on TurboTax Desktop.
Does TurboTax import from Coinbase?
At this time, TurboTax allows users to import transactions from Coinbase and other exchanges.
However, it’s important to remember that your tax report may be inaccurate if you’ve transferred your cryptocurrency between different wallets and exchanges. In this case, TurboTax may have trouble calculating your capital gains and losses.
In addition, TurboTax does not have the ability to integrate with decentralized wallets like MetaMask.
Luckily, CoinLedger can help. Just connect your wallets and exchanges and CoinLedger can generate a comprehensive crypto tax report that includes transactions from all of your exchanges and wallets!
Do I need crypto tax software if I got Form 1099-DA?
In many cases, Form 1099-DA may have inaccurate information about your cryptocurrency gains and losses.
Consider the following scenario.
In this scenario, John’s true capital gain is $2,000. However, Exchange B has no record of his original cost basis. John's proceeds will likely be reported as $10,000 on Form 1099-DA with no cost basis. If John copies and pastes the information from his Form 1099-DA, he will overpaying his taxes.
Crypto tax software can help John get an accurate view of his gains and losses across all of his wallets and exchanges.
What’s the best crypto tax software to use with TurboTax?
Looking for the best crypto tax software to use with TurboTax? Here’s why you should choose CoinLedger.
Highly capable: CoinLedger integrates with hundreds of exchanges and wallets such as Coinbase, Kraken, and Gemini and blockchains such as Ethereum and Solana.
Get the support you need: We know that trying to report your taxes on your own can be difficult. If you need assistance at any point while using CoinLedger, our support team is ready and available for all of our customers via email and live chat.
Import your gains and losses with a click: Once you’ve imported your crypto transaction history and generated your crypto tax reports within CoinLedger, you’ll be able to import them directly into TurboTax and other tax platforms with the click of a button!
Learn more about how CoinLedger works.
What if I have more than 20,000 transactions?
Currently, TurboTax Online can import up to 20,000 crypto transactions.
If you have more than 20,000 transactions, CoinLedger will automatically consolidate your TurboTax Online file by asset type so that you can still import your transactions and still file your taxes with TurboTax.
When e-filing a consolidated Form 8949, you need to take one additional step and mail in your complete 8949 to the IRS. For more detailed instructions, check out our guide to mailing your IRS 8949.
Get started today!
Want to file your cryptocurrency taxes before the deadline? Try CoinLedger, the crypto tax software trusted by more than 700,000 investors across the globe.
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Frequently asked questions
- Does TurboTax calculate crypto gains?
- How do I report cryptocurrency on my taxes?
- How do I report staking and mining income on TurboTax?
- How do I format my cryptocurrency transactions into csv format for TurboTax?
- Where is the crypto tax question on TurboTax?
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How we reviewed this article
All CoinLedger articles go through a rigorous review process before publication. Learn more about the CoinLedger Editorial Process.
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.
