Here's a full list of the exchanges supported currently, and how they're supported: Users can either connect using API, or upload a CSV file - but often the CSV file types are not supported by TurboTax and you'll need to manually edit them, or the API is limited in the data it returns. TurboTax supports 10+ of the most popular crypto exchanges to varying degrees. Which crypto exchanges does TurboTax support? Skip ahead for instructions on how to file with TurboTax and Koinly. This is why most investors opt to use TurboTax with a crypto tax calculator like Koinly - and this guide covers exactly how to file using TurboTax and Koinly. But for most crypto investors, the current integrations are too limited (both in number and the data automatically imported) to calculate your crypto taxes accurately. Overall, if you have very basic transactions from crypto exchanges that TurboTax supports, you may be able to do your crypto taxes using TurboTax. As well as this, the automatic crypto import options for TurboTax are only supported for TurboTax Online, not TurboTax CD/Download (desktop). Yes, TurboTax Online somewhat supports cryptocurrency transactions, but the software isn't specifically designed to calculate or file crypto taxes and while the platform supports some popular exchanges and wallets, the integrations offered are far too limited for most crypto investors. TurboTax is one of the most popular tax preparation software in the United States and is used by millions of taxpayers each year to help them file their state and federal taxes online, either solo or with the help of an accountant. It offers a range of features such as step-by-step guidance, a user-friendly interface, and tools to help users identify tax deductions and credits. TurboTax is a tax software program developed by Intuit that enables individuals and small business owners to prepare and file their taxes electronically. If you need more, though, it may be worth looking into other offerings in your area or, at least, speaking to a local account about their services and fees.Using TurboTax for crypto taxes, but no clue how to file them? Use our step by step guide for US investors on how to file your crypto tax with TurboTax and Koinly in 2023. For the majority of taxpayers who only need basic 1040s filed, TurboTax can be a great option, offering expert guidance at a low price (or even for free, in many cases). The best tax filing option depends on the complexity of your financial situation and your budget. Online guidance may not be enough to file your returns accurately or to maximize your refund. If you have a more complex tax scenario, you may be best served with a dedicated accountant who can get to know your financial situation personally. Last but not least, TurboTax is not ideal for those with complicated tax situations. If you're not well-versed in the tax process or need extra hand-holding with your returns, this might be a dealbreaker. There also aren't any physical locations like H&R Block and other similar services offer. On the downside, TurboTax doesn't offer expert assistance with every package, so if you opt for the free and basic version, you may find yourself in need of more guidance along the way. If you need to itemize your returns or attach any forms or schedules, you'll need a higher level of service. According to TurboTax, this version is only for use with the simplest of tax returns - meaning one filed using only IRS Form 1040. You'll notice there's a free version of the software. Have your returns handled by a tax pro from start to finish Get live advice and answers as you go, plus an expert review before submission Here's how the costs of TurboTax shake out per version: You can ask them questions along the way or have them prepare the full returns on your behalf. Paid versions give you access to live tax experts. The most basic version is a guided walkthrough of filing your taxes. TurboTax comes with several different levels of tax support. It can also help you identify deductions you might not know you were eligible for. At its heart, TurboTax is designed to walk you through the process of filing your taxes online. It's been around since 1984 and is now the most-used tax program in the U.S. TurboTax is a type of tax preparation software.
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