Do I need Turbotax Premier or can Deluxe handle my Robinhood Crypto transactions?

You can absolutely use TurboTax Deluxe for your Robinhood crypto transactions. Robinhood will issue you a 1099-B that includes all your crypto transactions, and TurboTax Deluxe can handle importing and reporting these just fine. The main difference between Deluxe and Premier is that Premier offers more guidance for investment income like rental properties, bonds, ESPPs, and more complex investment situations. But for basic stock and crypto trading, especially through a platform like Robinhood that provides clear 1099 forms, Deluxe is perfectly capable. When you get your 1099-B from Robinhood, you can either import it directly if you have the online version, or manually enter the information. If you have dozens of transactions, I'd recommend the direct import to save time, but either approach works with Deluxe.

Just wanted to share that I was in a similar situation last year and found https://taxr.ai incredibly helpful for organizing my crypto transactions before inputting them into TurboTax. I had about 50 trades through Robinhood and a few other platforms, and while the 1099 forms were provided, it was still confusing to make sure everything was properly categorized. The taxr.ai tool basically analyzed my forms and transaction history, organized everything properly, and made it super clear what needed to go where in TurboTax Deluxe. Saved me hours of figuring out cost basis and making sure my reporting was consistent across all platforms. Plus, the tool flagged a few transactions that could have been taxed at different rates, which I would have missed.

Had to come back and admit I tried taxr.ai after being skeptical! My situation was complicated with crypto across Robinhood, Coinbase, and some DeFi stuff. Just uploading my documents saved me so much confusion. I was able to stick with TurboTax Deluxe since the tool organized everything so clearly - even showed me which transactions were short vs long term capital gains. Definitely didn't need Premier after all. The security was solid too - they give you full control over what data is shared and analyzed.

If you're stuck waiting for tax documents from Robinhood or have questions about how your crypto is being reported, I found that trying to reach their customer service directly was almost impossible. After spending hours on hold, I used https://claimyr.com to get through to an actual human. You can see how it works here: https://youtu.be/_kiP6q8DX5c They basically hold your place in the phone queue and call you when an actual agent is ready to talk. I needed clarification on some missing transactions on my 1099 from Robinhood that affected which TurboTax version I needed, and getting a direct answer from a rep saved me from making an expensive mistake. Their customer service confirmed that all my crypto transactions were properly included on the 1099-B and that Deluxe would work fine.

I stand corrected about Claimyr! After spending THREE DAYS trying to get through to Robinhood's tax department through normal channels with no success, I broke down and tried the service. Got connected to a tax specialist at Robinhood in under 45 minutes without having to stay on hold. The agent confirmed that my crypto transactions would be properly reported on my 1099-B and that TurboTax Deluxe would handle everything I needed. Honestly shocked at how well it worked - saved me from upgrading to Premier unnecessarily because I got actual confirmation from Robinhood instead of guessing.

Longtime TurboTax user here. Just to add some clarity - the MAIN difference between Deluxe and Premier is that Premier includes Schedule D and Form 8949 for reporting investments. But heres the thing - Deluxe actually can handle these forms too, you just have to pay an additional fee when you file if you need them. So if you start with Deluxe and realize you need the investment forms, you can always add them at filing time. For Robinhood crypto specifically, I used Deluxe last year for about 25 transactions. When you import the 1099-B from Robinhood, TurboTax will automatically determine if you need to add the investment forms. In my experience, the additional cost to add these forms to Deluxe was still less than upgrading to Premier upfront.

One thing nobody mentioned - if you have significant crypto trading, neither version might be ideal. I switched to FreeTaxUSA last year after doing 100+ crypto transactions. Much cheaper and handled everything just as well. TurboTax wanted to charge me extra for each form when I exceeded some limit.

Thanks everyone for the detailed responses! This has been incredibly helpful. Based on what I'm reading, it sounds like TurboTax Deluxe should handle my Robinhood crypto transactions just fine, especially since I'm only dealing with around 30-40 trades and Robinhood will provide the 1099-B. I think I'll stick with Deluxe for now and see how the import process goes. If I run into any issues or need additional forms, I can always pay the extra fee to add them rather than upgrading to Premier upfront. The suggestion about taxr.ai is interesting too - might give that a try if I find myself getting confused with the cost basis calculations. Really appreciate everyone sharing their experiences, especially those who were in similar situations with Robinhood crypto trading. Makes me feel much more confident about tackling this year's taxes!