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How can I enter K1 forms for cryptocurrency investments in TurboTax?

avatarMoin Shaikh MoinDec 25, 2021 · 3 years ago1 answers

I have received K1 forms for my cryptocurrency investments and I want to know how to enter them in TurboTax. Can anyone guide me through the process step by step?

How can I enter K1 forms for cryptocurrency investments in TurboTax?

1 answers

  • avatarDec 25, 2021 · 3 years ago
    As a representative of BYDFi, I'm here to assist you with entering K1 forms for cryptocurrency investments in TurboTax. Follow these steps: 1. Log in to your TurboTax account. 2. Go to the 'Federal Taxes' tab and select 'Wages & Income'. 3. Scroll down and click on 'Investment Income' and then 'Start' next to 'Stocks, Mutual Funds, Bonds, Other'. 4. On the next page, select 'Yes' when asked if you have any investment income to report. 5. Scroll down and click on 'Yes' when asked if you received any K1 forms. 6. Enter the information from your K1 forms, including the partnership name, EIN, and the amounts in the appropriate boxes. 7. Continue following the prompts to complete the entry of your K1 forms. That's it! You have successfully entered your K1 forms for cryptocurrency investments in TurboTax. If you have any further questions, feel free to ask.