How does TurboTax handle cryptocurrency transactions and which version do I need to accurately report them?

3 answers

• Manish sharmaJan 12, 2024 · 2 years ago
  TurboTax has a specific section for reporting cryptocurrency transactions. To accurately report them, you need to use TurboTax Premier or TurboTax Self-Employed versions. These versions have the necessary forms and guidance to ensure accurate reporting of your cryptocurrency transactions. Simply follow the prompts and enter the relevant information about your transactions, such as the type of cryptocurrency, date of acquisition, and sale price. TurboTax will then calculate the capital gains or losses for your tax return. Make sure to keep records of your cryptocurrency transactions for reference.
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• PaperMay 31, 2021 · 4 years ago
  When it comes to handling cryptocurrency transactions, TurboTax has you covered. To accurately report them, you'll need to use TurboTax Premier or TurboTax Self-Employed versions. These versions are designed to handle the complexities of cryptocurrency taxation. Just follow the step-by-step instructions provided by TurboTax and enter the necessary details about your transactions. TurboTax will take care of the calculations and ensure that your tax return accurately reflects your cryptocurrency activities. Remember to keep records of your transactions for documentation purposes.
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• Roger LeeMay 04, 2022 · 4 years ago
  TurboTax is a popular tax preparation software that can handle cryptocurrency transactions with ease. To accurately report your cryptocurrency transactions, you'll need to use TurboTax Premier or TurboTax Self-Employed versions. These versions are specifically designed for individuals who have engaged in cryptocurrency activities. Simply follow the prompts and enter the required information about your transactions. TurboTax will take care of the rest and ensure that your tax return is accurate. It's important to keep records of your cryptocurrency transactions for audit purposes. Happy tax filing!
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