TurboTax Gain-Loss Report
When you generate a TurboTax Gain-Loss Report on KoinX, you receive a simplified, TurboTax-compatible summary of your crypto disposals for the selected financial year. This report is specifically designed to match TurboTax’s upload requirements and focuses only on the data required to calculate capital gains and losses under U.S. tax rules.
Unlike detailed transaction reports, this file contains only taxable disposal events and excludes internal transfers or non-taxable movements to prevent duplication or reporting errors during filing.
Note: This report is generated exclusively for TurboTax filing purposes. It does not include non-taxable transfers, internal wallet movements, or detailed transaction notes. Each row in the report represents one taxable disposal event.
Why This Report Is Useful
- Structured for direct upload into TurboTax
- Includes only taxable crypto disposal events
- Ensures accurate cost basis and proceeds calculation
- Reduces manual data entry and filing errors
- Aligns with IRS Form 8949 reporting requirements
Key Terms in the Report
- Amount → Quantity of cryptocurrency disposed
- Currency Name → Asset sold (for example, MATIC, BTC, ETH)
- Purchase Date → Date and time when the asset was originally acquired
- Date Sold → Date and time when the asset was disposed
- Cost Basis → Original acquisition cost in USD
- Proceeds → Value received at the time of disposal in USD
Example Transactions :
Example 1: Asset Sold After Long-Term Holding
| Amount | Currency Name | Purchase Date | Date Sold | Cost Basis | Proceeds |
|---|---|---|---|---|---|
| 5 | MATIC | 01/01/2023 08:05:00 | 01/01/2025 08:10:00 | 0.51 | 2.49 |
In this example, the user sold 5 MATIC that were purchased in 2023 and disposed of in 2025. The cost basis and proceeds are calculated automatically in USD and reported as a taxable capital gains event.
Example 2: Partial Disposal of the Same Asset
| Amount | Currency Name | Purchase Date | Date Sold | Cost Basis | Proceeds |
|---|---|---|---|---|---|
| 5 | MATIC | 01/01/2023 08:05:00 | 01/02/2025 08:20:00 | 0.51 | 2.49 |
Here, another portion of MATIC acquired on the same purchase date is sold at a later time. TurboTax treats this as a separate disposal, which is why it appears as a new row in the report.
Example 3: Recently Acquired Asset Sold
| Amount | Currency Name | Purchase Date | Date Sold | Cost Basis | Proceeds |
|---|---|---|---|---|---|
| 5 | MATIC | 01/01/2025 08:20:00 | 01/03/2025 08:20:00 | 2.51 | 9.99 |
This example shows a short-term holding where the asset was purchased and sold within the same financial year. TurboTax will classify this as a short-term capital gain or loss based on the holding period.
Where Can You Use This Report?
- Uploading directly into TurboTax Premier or Self-Employment
- Filing U.S. crypto capital gains under Form 8949
- Sharing with a tax professional or CPA
- Supporting documentation during a tax audit
- Maintaining personal tax records
The TurboTax Gain-Loss Report provides a clean and compliant summary of your crypto disposals. By including only the data required by TurboTax, KoinX helps ensure accurate reporting, prevents duplicate entries, and simplifies the U.S. crypto tax filing process.