How to File Your Bitcoin and Crypto Taxes with TaxAct

You can easily file your bitcoin and crypto taxes with popular tax filing software TaxAct by importing your crypto tax reports from CryptoTrader.Tax. This guide walks through the step by step process, so that you can quickly file your cryptocurrency transactions.

It might be helpful to first read through our complete guide for a detailed overview of how crypto taxes work.

*Note* - Reporting cryptocurrency transactions requires the paid version of TaxAct that supports investments. As of 2018, this version costs roughly $59.

1. Login to your TaxAct Account

2. Navigate to the Investment Income Section

Federal > Investment Income

Taxact cryptocurrency

Note - you can also directly get to the "Electronic stock data import" section by clicking the "Help" icon and searching "Stock Data Import". Once you are here, skip ahead to step 5.

3. From the Investment Income section, select the “Gain or loss on the sale of investments” dropdown arrow

Bitcoin Taxes In TaxAct

4. From the Gain or loss dropdown section, select “Stock data import”

Taxact crypto taxes

5. Select CSV Import

*This is where you will import the TaxAct CSV file that you downloaded from your CryptoTrader.Tax account. This is the file that contains all of your gains and losses from all of your cryptocurrency transactions.

taxact doing crypto

6. Choose a file and select the TaxAct CSV file that you downloaded from CryptoTrader.Tax. Click continue

Taxact cryptocurrency taxes

7. You will see a preview of the file you just imported. CryptoTrader.Tax automatically matches the data to the TaxAct format, so you simply hit continue on this step

Bitcoin taxes

8. Select all rows by clicking the top checkbox. This will select all rows except the descriptions. Click Continue

Cryptocurrncy and taxact

9. Click the “Import” button to import your data into TaxAct. You will see this success message once complete

Crypto tax

10. To review your imported transactions, you can launch the TaxAct Stock Assistant. You can manage your transactions here

crypto taxes and taxact

11. That’s it! Now you have successfully imported your cryptocurrency transactions. You can now complete the rest of your tax return within TaxAct.

Have any questions? Let us know!