Cryptocurrency Support for TurboTax Desktop/CD Version on BearTax

During the tax season, one common thing in everyone’s life is TurboTax. There are various versions of it and different users choose these version according to their needs. Let’s learn to use BearTax with TurboTax CD version

TurboTax CD/Desktop vs Cloud versions

With the increase in demand for online cloud versions instead of a stand-alone CD versions, Intuit has come up with an online version where users can go to a URL and signup instead of buying a CD from a store near you.

Users can now choose between these 2 options. At BearTax, on our mission to make it easy for users, we always strive to provide the best user experience possible. Hence we have integrations for both CD version and Online version.

Instructions on how to use the online/cloud version can be found here.

How to use BearTax with TurboTax CD/Desktop?

To use BearTax along with the CD version or Desktop version, you would need to either import a TXF (Tax Exchange Format) or an aggregated version of your details.

While our TXF version is still under testing, you can use the aggregated file format to get your capital gains or losses information into TurboTax Desktop without any issues.

Once you have previewed gain-loss for free, head to payment to access the tax documents section. Once the payments is done, you will be able to see following screen on Download tax forms page.

Now click to download the Turbotax Aggregated CSV. This file will contain the capital gains and losses aggregated by asset, thus resulting in few transactions.

All you have to do is take these entries and enter them manually in TurboTax desktop version.

We’ll keep you all posted about TXF file support as soon as we roll out. For latest updates, please join our telegram group or follow us on Twitter

Follow us to get updates on cryptocurrency taxation
error

Leave a Reply

Your email address will not be published. Required fields are marked *