How can I use Turbotax to file my quarterly taxes in cryptocurrency?

3 answers

• May 04, 2022 · 3 years ago
  Yes, Turbotax can handle cryptocurrency transactions and help you calculate your tax liability. Turbotax has a specific section for reporting cryptocurrency transactions. You can import your transaction history from your cryptocurrency exchange and Turbotax will automatically calculate the gains or losses based on the cost basis and the fair market value of the cryptocurrencies at the time of the transactions. It's important to keep accurate records of your transactions and consult with a tax professional if you have any specific questions.
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• May 04, 2022 · 3 years ago
  Absolutely! Turbotax has made it easier than ever to file your taxes, even if you've been dealing with cryptocurrencies. Just like any other investment, you'll need to report your gains or losses from cryptocurrency transactions. Turbotax has a dedicated section for cryptocurrency transactions where you can enter your transaction details. It will then calculate your tax liability based on the information provided. Remember to keep track of your transactions and consult with a tax professional if needed.
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• May 04, 2022 · 3 years ago
  Sure thing! Turbotax is a great tool for filing your taxes, and it can definitely handle cryptocurrency transactions. You'll need to navigate to the cryptocurrency section in Turbotax and enter your transaction details. Turbotax will then calculate your gains or losses based on the information you provide. It's important to note that Turbotax is just a tool and it's always a good idea to consult with a tax professional to ensure you're accurately reporting your cryptocurrency transactions.
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