How Do I Export My Tax Data from eToro into TurboTax?

Navigating tax season can be a daunting task, especially if you’re an active trader on platforms like eToro. Fortunately, eToro provides tools to help you export your tax-related data, and TurboTax offers a straightforward way to import that information. This step-by-step guide will walk you through the process of exporting your tax data from eToro and importing it into TurboTax, ensuring a smoother filing experience.

Step 1: Understand What Tax Data You Need from eToro

Before diving into the export process, it’s helpful to know what information you’ll need for your taxes. eToro generates several tax documents depending on your trading activity and location. The most common ones for U.S. users include:

• Form 1099-B: Reports proceeds from broker and barter exchange transactions (e.g., sales of stocks, ETFs, or crypto).
• Form 1099-DIV: Details dividends and distributions.
• Form 1099-MISC: Covers miscellaneous income, such as referral bonuses.

Not all users receive all forms—it depends on your activity. TurboTax can handle these forms, but you’ll need to export the data from eToro first.

Step 2: Log In to Your eToro Account

To begin, log in to your eToro account via the website (the mobile app doesn’t currently support exporting tax documents). Use your credentials to access your dashboard.

Step 3: Access Your Tax Documents

1. Navigate to the Portfolio Section: Once logged in, click on the “Portfolio” tab on the left-hand menu.
2. Go to History: In the Portfolio section, find the “History” tab to view your trading activity.
3. Switch to Account Activity: Look for an option like “Account Activity” or “Statements” (eToro’s interface may vary slightly). This section includes all transactions, such as trades, dividends, and withdrawals.
4. Select the Tax Year: Filter the data for the tax year you need (e.g., 2024 for the 2025 tax season). eToro typically allows you to choose a custom date range.

Step 4: Export Your Data

eToro doesn’t directly integrate with TurboTax, so you’ll need to export your data manually:

1. Download the Account Statement: In the “Account Activity” or “History” section, look for an option to “Download” or “Export” your statement. eToro usually provides this as a CSV or PDF file.
2. Choose CSV Format: If given a choice, opt for the CSV file, as it’s easier to manipulate and import into tax software.
3. Save the File: Download the file to your computer and name it something recognizable, like “eToro_2024_Tax_Data.csv.”

If eToro provides official tax forms (e.g., 1099s), you may also find them under a “Tax Reports” or “Documents” section. Download these as PDFs for reference or manual entry.

Step 5: Prepare the Data for TurboTax

TurboTax doesn’t have a direct import option for eToro’s CSV files, so you’ll need to align the data with TurboTax’s requirements:

• Review the CSV: Open the file in a spreadsheet program (e.g., Microsoft Excel or Google Sheets). It should include columns like date, transaction type (buy/sell), asset name, quantity, proceeds, and cost basis.
• Match TurboTax Fields: TurboTax will ask for details like “Date Acquired,” “Date Sold,” “Cost Basis,” and “Proceeds.” Ensure your eToro data is organized accordingly. You may need to calculate gains or losses manually if eToro doesn’t provide them.

Step 6: Import or Enter Data into TurboTax

1. Log In to TurboTax: Open TurboTax (online or desktop version) and start or continue your tax return.
2. Navigate to Investment Income: In the “Federal” section, go to “Investment Income” or “Stocks, Cryptocurrency, Mutual Funds, Bonds, Other.”
3. Choose Manual Entry or Import:
   • Manual Entry: If your eToro transactions are limited, you can manually input each trade. Select “Stocks, Bonds, Mutual Funds,” then enter the details from your CSV or 1099 forms.
   • CSV Import (via Brokerage): TurboTax supports CSV imports for some brokers but not eToro directly. If you’re comfortable, you can reformat your eToro CSV to match TurboTax’s template (available in the import section) and upload it. Otherwise, stick to manual entry.
4. Enter 1099 Data: If you downloaded 1099 forms from eToro, input the totals from each form into the corresponding TurboTax sections (e.g., 1099-B for sales, 1099-DIV for dividends).

Step 7: Verify Your Entries

After importing or entering your data, double-check the figures in TurboTax:

• Ensure the total proceeds and cost basis match your eToro statement.
• Confirm that gains/losses align with your expectations (short-term vs. long-term capital gains).
• If something looks off, revisit your eToro export or consult a tax professional.

Step 8: Save and File

Once satisfied, save your progress in TurboTax. You can then proceed to complete your tax return and file it electronically or by mail, depending on your preference.

Additional Tips

• Crypto Transactions: If you traded cryptocurrencies on eToro, these are reported similarly to stocks on Form 1099-B. Ensure all crypto trades are included in your export.
• Missing Cost Basis: eToro may not always provide the cost basis for every trade. You might need to calculate it using your purchase history.
• Deadlines: For the 2025 tax season, tax forms are typically available by mid-February. Check eToro for availability around that time.

Conclusion

Exporting tax data from eToro into TurboTax requires a few manual steps, but it’s manageable with the right approach. By downloading your account statement, organizing the data, and carefully entering it into TurboTax, you can ensure your trading activity is accurately reported. If the process feels overwhelming or your trading volume is high, consider using a third-party crypto tax tool (like CoinTracker or Koinly) that integrates with eToro and TurboTax, or consult a tax professional for peace of mind. Happy filing!