I have followed TurboTax's instructions, but the menus are different and do not have an area to enter cryptocurrency. Even searching with "find" brings up zero!
I have followed TurboTax's instructions, but the menus are different and do not have an area to enter cryptocurrency. Even searching with "find" brings up zero!
Buying and selling cryptocurrencies is considered as trading in investment. So the trading of digital currency as an investment, and any gain or loss from it, is to be treated as capital gain or a capital loss. To enter the capital gain or loss from cryptocurrency follow the steps below:
SelectFind from the top right corner of the window.
In the Findwindow, enter capital gains.
SelectCapital Gains and Capital Gains Deduction Profilefrom the results, then selectGo.
On theYour Capital Gains Profilescreen, check theSold stocksoption and then selectContinue.
On the Capital Gains screen, beside the Type of capital property disposed of option, select Mutual funds/ publicly traded shares/ stocks/ cryptocurrencies.
Enter the amounts in the respected columns provided.
Click on Done.
If, you had sold less than 1 unit of currency leave the # of units for shares or face value field blank. It isn't required.